By Sarah Lizee
Olympia, Wash., March 5 – Credit Suisse Asset Management, LLC sold $78 million of notes in a refinancing and reset of the vintage 2015 Madison Park Funding XIX, Ltd./Madison Park Funding XIX, LLC collateralized loan obligation deal, according to a notice of executed first supplemental indenture.
The CLO priced $37.4 million of class C-R deferrable floating-rate notes at Libor plus 215 basis points; $28.5 million of class D-R deferrable floating-rate notes at Libor plus 435 bps; and $12.1 million of class E-R deferrable floating-rate notes at Libor plus 610 bps.
Wells Fargo Bank, NA is the refinancing placement agent.
Credit Suisse Asset Management will continue to manage the CLO.
Proceeds were used to redeem the original class C, D and E notes issued on Dec. 29, 2015.
| Issuer: | Madison Park Funding XIX, Ltd./Madison Park Funding XIX, LLC
|
| Amount: | $78 million refinancing
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Refinancing agent: | MUFG Securities Americas Inc.
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Settlement date: | March 2
|
|
|
| Class C-R notes
|
| Amount: | $37.4 million
|
| Maturity: | January 2028
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | Moody’s: Baa3
|
|
|
| Class D-R notes
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| Amount: | $28.5 million
|
| Maturity: | January 2028
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 435 bps
|
| Rating: | Moody’s: Ba3
|
|
|
| Class E-R notes
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| Amount: | $12.1 million
|
| Maturity: | January 2028
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 610 bps
|
| Rating: | Moody’s: B3
|
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