Chicago, May 12 – Credit Suisse Asset Management, LLC sold $499.1 million in a collateralized loan obligation being issued by Madison Park Funding LVII, Ltd., according to a presale report and a press release.
The notes will mature on July 27, 2034.
The CLO consists of $307.5 million of class A-1 senior floating-rate notes at SOFR plus 144 basis points, $17.5 million of class A-2 senior floating-rate notes at SOFR plus 175 bps, $55 million of class B senior floating-rate notes at SOFR plus 200 bps, $30 million of class C deferrable mezzanine floating-rate notes at SOFR plus 245 bps, $30 million of class D deferrable mezzanine floating-rate notes at SOFR plus 360 bps, $20 million of class E deferrable mezzanine floating-rate notes at SOFR plus 734 bps and $39.1 million of subordinated notes.
Credit Suisse Asset Management, LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
J.P. Morgan Securities LLC was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
Issuer: | Madison Park Funding LVII, Ltd.
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $499.1 million
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Maturity: | July 27, 2034
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Structure: | Cash flow CLO
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Placement agent: | J.P. Morgan Securities LLC
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Manager: | Credit Suisse Asset Management, LLC
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Settlement date: | July 6
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Class A-1 notes
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Amount: | $307.5 million
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Securities: | Senior floating-rate notes
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Coupon: | SOFR plus 144 bps
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Rating: | Moody's: Aaa
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| Fitch: AAA
|
|
Class A-2 notes
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Amount: | $17.5 million
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Securities: | Senior floating-rate notes
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Coupon: | SOFR plus 175 bps
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Rating: | Fitch: AAA
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|
Class B notes
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Amount: | $55 million
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Securities: | Senior floating-rate notes
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Coupon: | SOFR plus 200 bps
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Rating: | Fitch: AA
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|
Class C notes
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Amount: | $30 million
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Securities: | Deferrable mezzanine floating-rate notes
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Coupon: | SOFR plus 245 bps
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Rating: | Fitch: A
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Class D notes
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Amount: | $30 million
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Securities: | Deferrable mezzanine floating-rate notes
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Coupon: | SOFR plus 360 bps
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Rating: | Fitch: BBB-
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Class E notes
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Amount: | $20 million
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Securities: | Deferrable mezzanine floating-rate notes
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Coupon: | SOFR plus 734 bps
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Rating: | Moody's: Ba3
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|
Subordinated notes
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Amount: | $39.1 million
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Securities: | Subordinated notes
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