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Credit Suisse Asset Management offers $816.7 million Madison Park Funding XXXI CLO
By Cristal Cody
Tupelo, Miss., Oct. 30 – Credit Suisse Asset Management, LLC plans to price $816.7 million of notes due Jan. 23, 2031 in the Madison Park Funding XXXI Ltd./Madison Park Funding XXXI LLC collateralized loan obligation transaction, according to a market source.
The deal includes $3 million of class X floating-rate notes (AAA); $456 million of class A-1 floating-rate notes (AAA); $45 million of class A-2A floating-rate notes (/non-rated/); $15 million of class A-2b fixed-rate notes (/non-rated/); $88 million of class B floating-rate notes (AA); $48 million of class C deferrable floating-rate notes (A); $50 million of class D deferrable floating-rate notes (BBB-); $30 million of class E deferrable floating-rate notes (BB-) and $81.7 million of subordinated notes.
BofA Merrill Lynch is the placement agent.
Credit Suisse Asset Management will manage the CLO.
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.
The deal is expected to close on Dec. 12.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
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