By Cristal Cody
Tupelo, Miss., Sept. 16 – Marble Point CLO Management LLC priced $360.25 million of notes due Oct. 19, 2032 in the Marble Point CLO XVI, Ltd./Marble Point CLO XVI LLC broadly syndicated transaction, according to a market source.
The CLO sold $129 million of class A-L loans at Libor plus 143 basis points, $54.5 million of class A-N notes at Libor plus 143 bps and $54.5 million of class B notes at Libor plus 195 bps.
Marble Point priced $22.75 million of class C notes at Libor plus 300 bps; $29 million of class D notes at Libor plus 398 bps; $8 million of class E-1 notes at Libor plus 721 bps; $5 million of class E-2A notes at Libor plus 696 bps; $13.75 million of class E-2B notes at Libor plus 730 bps and $43.75 million of subordinated notes.
BofA Securities, Inc. was the placement agent.
Marble Point CLO Management is an affiliate of Greenwich, Conn.-based alternative asset manager Marble Point Credit Management LLC.
| Issuer: | Marble Point CLO XVI, Ltd./Marble Point CLO XVI LLC
|
| Amount: | $360.25 million
|
| Maturity: | Oct. 19, 2032
|
| Securities: | Loans and floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | Marble Point CLO Management LLC
|
| Pricing date: | Aug. 29
|
|
|
| Class A-L loans
|
| Amount: | $129 million
|
| Securities: | Loans
|
| Coupon: | Libor plus 143 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA
|
|
|
| Class A-N notes
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| Amount: | $54.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 143 bps
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA
|
|
|
| Class B notes
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| Amount: | $54.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
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| Amount: | $22.75 million
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| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
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| Amount: | $29 million
|
| Securities: | Floating-rate notes
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| Coupon: | Libor plus 398 bps
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E-1 notes
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| Amount: | $8 million
|
| Maturity: | Jan. 20, 2032
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 721 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Class E-2A notes
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| Amount: | $5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 696 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Class E-2B notes
|
| Amount: | $13.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 730 bps
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $43.75 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
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