Chicago, April 8 – Credit Suisse Asset Management Ltd. repriced five classes of notes from the Madison Park Euro Funding XIII DAC collateralized loan obligation transaction due Jan. 15, 2031, according to a notice.
The notes were originally issued by Cadogan Square CLO XIII DAC but the name of the issuer changed in March 2019.
The issuer is refinancing €307.5 million of class A senior secured floating-rate notes at Euribor plus 75 basis points, €45 million of class B-1 senior secured floating-rate notes at Euribor plus 165 bps, €5 million of class B-2 2% senior secured fixed-rate notes, €32.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 237 bps and €32.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 340 bps.
Proceeds from the new notes will be used to redeem the earlier class A, class B, class C and class D notes at par.
Credit Suisse will still manage the portfolio which is primarily composed of senior secured loans or senior secured bonds.
There are two and a half years left on the reinvestment period.
| Issuer: | Madison Park Euro Funding XIII DAC
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €422.5 million
|
| Maturity: | Jan. 15, 2031
|
| Manager: | Credit Suisse Asset Management Ltd.
|
| Announcement date: | April 8
|
| Settlement date: | April 15
|
|
|
| Class A notes
|
| Amount: | €307.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 75 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-1 notes
|
| Amount: | €45 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B-2 notes
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| Amount: | €5 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Rating: | Moody's: Aa2
|
|
|
| Class C notes
|
| Amount: | €32.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 237 bps
|
| Rating: | Moody's: A2
|
|
|
| Class D notes
|
| Amount: | €32.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 340 bps
|
| Rating: | Moody's: Baa3
|
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