Chicago, Oct. 9 – Credit Suisse Asset Management, LLC priced $806 million of notes due Oct. 15, 2032 in the Madison Park Funding XXXIII Ltd./Madison Park Funding XXXIII LLC collateralized loan obligation transaction, according to a market source.
The CLO sold $512 million of class A floating-rate notes at Libor plus 133 basis points, $50 million of class B-1 floating-rate notes at Libor plus 180 bps and $46 million of class B-2 3.3311% fixed-rate notes.
The CLO also priced $48 million of class C deferrable floating-rate notes at Libor plus 245 bps, $48 million of class D deferrable floating-rate notes at Libor plus 380 bps, $32 million of class E deferrable floating-rate notes at Libor plus 680 bps and $70 million of subordinated notes.
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.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XXXIII Ltd./Madison Park Funding XXXIII LLC
|
| Amount: | $806 million
|
| Maturity: | Oct. 15, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Call feature: | Two years
|
| Reinvestment end date: | Five years
|
| Pricing date: | Oct. 7
|
| Closing date: | Jan. 31
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A notes
|
| Amount: | $512 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 133 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
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| Amount: | $50 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
|
|
| Class B-2 notes
|
| Amount: | $46 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.3311%
|
|
|
| Class C notes
|
| Amount: | $48 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 245 bps
|
|
|
| Class D notes
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| Amount: | $48 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 380 bps
|
|
|
| Class E notes
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| Amount: | $32 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 680 bps
|
|
|
| Equity
|
| Amount: | $70 million
|
| Securities: | Subordinated notes
|
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