By Cristal Cody
Tupelo, Miss., Dec. 14 – Credit Suisse Asset Management, LLC priced $45 million of notes due Jan. 23, 2031 in a partial refinancing of a 2018 broadly syndicated collateralized loan obligation offering, according to market sources.
Madison Park Funding XLVII Ltd./Madison Park Funding XLVII LLC priced the $45 million of class A-2-R floating-rate notes (//AAA) at Libor plus 145 basis points.
The CLO, previously known as Atrium XV LLC, originally issued the class A-2 notes in December 2018 with a fixed-rate coupon of 4.489%.
Credit Suisse Securities (USA) LLC was the refinancing agent.
The CLO is backed primarily by broadly syndicated first-lien senior secured loans.
Proceeds will be used to redeem the class A-2 fixed-rate notes.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XLIV Ltd./Madison Park Funding XLIV LLC
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| Amount: | $45 million refinancing
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| Maturity: | Jan. 23, 2031
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| Securities: | Class A-2-R floating-rate notes
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| Structure: | Cash flow CLO
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| Refinancing agent: | Credit Suisse Securities (USA) LLC
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| Manager: | Credit Suisse Asset Management, LLC
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| Coupon: | Libor plus 145 bps
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| Settlement date: | Dec. 14
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| Ratings: | Fitch: AAA
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| Distribution: | Rule 144A and Regulation S
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