Chicago, Jan. 26 – Credit Suisse Asset Management LLC refinanced for $814.25 million the collateralized loan obligation issued by Madison Park Funding XXI Ltd./Madison Park Funding XXI LLC, according to multiple notices.
The notes will now mature on Oct. 15, 2032.
The original transaction closed in August 2016 and then was refinanced in November 2019.
The CLO now consists of $488 million of class A-1a-RR senior secured floating-rate notes at Libor plus 108 basis points, $32 million of class A-1b-RR senior secured floating-rate notes at Libor plus 140 bps, $88 million of class A-2-RR senior secured floating-rate notes at Libor plus 165 bps, $48 million of class B-RR senior secured floating-rate notes at Libor plus 220 bps, $40 million of class C-1-RR senior secured deferrable floating-rate notes at Libor plus 325 bps, $16 million of class C-2-RR senior secured deferrable floating-rate notes at Libor plus 515 bps, $24 million of class D-RR senior secured deferrable floating-rate notes at Libor plus 750 bps and $78.25 million of subordinated notes..
Credit Suisse Asset Management LLC will manage the collateral through the end of the three-year reinvestment period.
The notes are backed by a portfolio primarily of first-lien senior secured leveraged loans.
The notes can be called starting Oct. 20, 2022.
Credit Suisse Asset Management, a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XXI Ltd./Madison Park Funding XXI LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $814.25 million
|
| Maturity: | Oct. 15, 2032
|
| Structure: | Cash flow CLO
|
| Manager: | Credit Suisse Asset Management LLC
|
| Call feature: | Oct. 20, 2022
|
| Settlement date: | Oct. 29
|
|
|
| Class A-1a-RR notes
|
| Amount: | $488 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 108 bps
|
| Rating: | S&P: AAA
|
| Fitch: NR
|
|
|
| Class A-1b-RR notes
|
| Amount: | $32 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Rating: | S&P: NR
|
| Fitch: AAA
|
|
|
| Class A-2-RR notes
|
| Amount: | $88 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
| Fitch: NR
|
|
|
| Class B-RR notes
|
| Amount: | $48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Rating: | S&P: A
|
| Fitch: NR
|
|
|
| Class C-1-RR notes
|
| Amount: | $40 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 325 bps
|
| Rating: | S&P: BBB-
|
| Fitch: NR
|
|
|
| Class C-2-RR notes
|
| Amount: | $16 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 515 bps
|
| Rating: | S&P: NR
|
| Fitch: BBB-
|
|
|
| Class D-RR notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 750 bps
|
| Rating: | S&P: B+
|
| Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $78.25 million
|
| Securities: | Subordinated notes
|
|
|
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