Chicago, Feb. 18 – Marathon Asset Management LP is refinancing one class of notes from the top tier of the Marathon CLO IX Ltd. collateralized loan obligation transaction, according to a market source.
The CLO is selling $368,845,892 of class A-1AR senior secured floating-rate notes due April 16, 2029.
The notes carry a floating-rate coupon of Libor plus 115 basis points.
The other five classes of secured notes and the one class of subordinated notes from the March 28, 2017 portfolio will remain outstanding.
Marathon Asset Management will continue to manage the notes through the rest of the reinvestment period.
The notes mostly have broadly syndicated senior secured corporate loans backing them as collateral.
Marathon Asset Management is a New York City-based global credit manager.
| Issuer: | Marathon CLO IX Ltd.
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| Amount: | $368,845,892
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| Maturity: | April 16, 2029
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| Securities: | Class A-1AR senior secured floating-rate notes
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| Structure: | Cash flow CLO
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| Manager: | Marathon Asset Management LP
|
| Coupon: | Libor plus 115 bps
|
| Announcement date: | Feb. 17
|
| Rating: | Moody’s: Aaa
|
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