Mariner Investment preps $502 million CLO offering of notes due 2023

By Cristal Cody

Tupelo, Miss., March 13 – Mariner Investment Group, LLC intends to bring a $502 million collateralized loan obligation deal, according to a market source.

The Mariner CLO 2015-1 LLC transaction includes $331 million of class A floating-rate notes (/AAA/); $38.25 million of class B-1 floating-rate notes (/AA/); $17 million of class B-2 fixed-rate notes (/AA/); $26.25 million of class C deferrable floating-rate notes (/A/); $25.25 million of class D deferrable floating-rate notes (/BBB/); $21 million of class E deferrable floating-rate notes (/BB/) and $43.25 million of subordinated notes.

BofA Merrill Lynch is the placement agent.

The notes are due April 20, 2023.

The CLO is non-callable until April 20, 2016.

The transaction is backed primarily by a static pool of broadly syndicated senior secured loans.

Mariner Investment Group priced its first CLO deal, the $502 million Elm CLO 2014-1 Ltd./Elm CLO 2014-1 LLC offering, in December.

The alternative asset management firm is based in New York City.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.