Chicago, Dec. 21 – Maranon Management LLC sold $396.6 million in a collateralized loan obligation being issued by Maranon Loan Funding 2023-2 Ltd./Maranon Loan Funding 2023-2 LLC, according to a presale reprot.
The notes will mature on Jan. 15, 2036.
The CLO consists of $222 million of class A-1 senior secured floating-rate notes at SOFR plus 250 basis points, $10 million of class A-2 6.43% senior secured fixed-rate notes, $44 million of class B senior secured floating-rate notes at SOFR plus 350 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 450 bps, $20 million of class D senior secured deferrable floating-rate notes at SOFR plus 675 bps, $24 million of class E senior secured deferrable floating-rate notes at SOFR plus 1,000 bps and $44.6 million of variable dividend rate notes.
Maranon Management LLC will manage the collateral through the end of the reinvestment period on Jan. 15, 2028.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting Jan. 15, 2026.
SG Americas Securities LLC was the placement agent.
Maranon Capital is a Chicago-based investment firm.
| Issuer: | Maranon Loan Funding 2023-2 Ltd./Maranon Loan Funding 2023-2 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and variable dividend rate notes
|
| Amount: | $396.6 million
|
| Maturity: | Jan. 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | SG Americas Securities LLC
|
| Manager: | Maranon Management LLC
|
| Call feature: | Jan. 15, 2026
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 21
|
|
|
| Class A-1 notes
|
| Amount: | $222 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 6.43%
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 350 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 450 bps
|
| Rating: | S&P: A-
|
|
|
| Class D notes
|
| Amount: | $20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 675 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1000 bps
|
| Rating: | S&P: BB-
|
|
|
| Variable dividend rate notes
|
| Amount: | $44.6 million
|
| Securities: | Subordinated notes
|
|
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