Chicago, Dec. 7 – Credit Suisse Asset Management LLC sold $487.05 million in a collateralized loan obligation being issued by Madison Park Funding LX Ltd./Madison Park Funding LX LLC, according to a presale report.
The notes will mature on Oct. 25, 2035.
The CLO consists of $315 million of class A-1 senior secured floating-rate notes at SOFR plus 220 basis points, $5 million of class A-2 5.77% senior secured fixed-rate notes, $51.5 million of class B senior secured floating-rate notes at SOFR plus 300 bps, $29.75 million of class C senior secured deferrable floating-rate notes at SOFR plus 375 bps, $29.5 million of class D senior secured deferrable floating-rate notes at SOFR plus 550 bps, $17 million of class E senior secured deferrable floating-rate notes at SOFR plus 895 bps and $39.3 million of subordinated notes.
Credit Suisse Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 25, 2027.
Collateral for the notes consists of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 25, 2024.
Nomura Securities International Inc. was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding LX Ltd./Madison Park Funding LX LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $487.05 million
|
| Maturity: | Oct. 25, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International Inc.
|
| Manager: | Credit Suisse Asset Management LLC
|
| Call feature: | Oct. 25, 2024
|
| Settlement date: | Dec. 29
|
|
|
| Class A-1 notes
|
| Amount: | $315 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 220 bps
|
|
|
| Class A-2 notes
|
| Amount: | $5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.77%
|
|
|
| Class B notes
|
| Amount: | $51.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $29.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 375 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $29.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 550 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $17 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 895 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $39.3 million
|
| Securities: | Subordinated notes
|
|
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