Chicago, Oct. 9 – Credit Suisse Asset Management, LLC priced $806 million of notes due Oct. 15, 2032 in the Madison Park Funding XXXIII Ltd./Madison Park Funding XXXIII LLC collateralized loan obligation transaction, according to a market source.
The CLO sold $512 million of class A floating-rate notes at Libor plus 133 basis points, $50 million of class B-1 floating-rate notes at Libor plus 180 bps and $46 million of class B-2 3.3311% fixed-rate notes.
The CLO also priced $48 million of class C deferrable floating-rate notes at Libor plus 245 bps, $48 million of class D deferrable floating-rate notes at Libor plus 380 bps, $32 million of class E deferrable floating-rate notes at Libor plus 680 bps and $70 million of subordinated notes.
The CLO has a two-year non-call period and a five-year reinvestment period.
The notes are collateralized primarily by broadly syndicated senior secured loans.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
Issuer: | Madison Park Funding XXXIII Ltd./Madison Park Funding XXXIII LLC
|
Amount: | $806 million
|
Maturity: | Oct. 15, 2032
|
Securities: | Fixed-rate, floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Manager: | Credit Suisse Asset Management, LLC
|
Call feature: | Two years
|
Reinvestment end date: | Five years
|
Pricing date: | Oct. 7
|
Closing date: | Jan. 31
|
Distribution: | Rule 144A and Regulation S
|
|
Class A notes
|
Amount: | $512 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 133 bps
|
Rating: | Fitch: AAA
|
|
Class B-1 notes
|
Amount: | $50 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 180 bps
|
|
Class B-2 notes
|
Amount: | $46 million
|
Securities: | Fixed-rate notes
|
Coupon: | 3.3311%
|
|
Class C notes
|
Amount: | $48 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 245 bps
|
|
Class D notes
|
Amount: | $48 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 380 bps
|
|
Class E notes
|
Amount: | $32 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 680 bps
|
|
Equity
|
Amount: | $70 million
|
Securities: | Subordinated notes
|
© 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.