Chicago, Nov. 18 – Credit Suisse Asset Management LLC sold $750.07 million in a collateralized loan obligation being issued by Madison Park Funding XXXIX Ltd./Madison Park Funding XXXIX LLC, according to a pre-sale report.
The notes will mature on Oct. 22, 2034.
The CLO consists of $465 million of class A senior secured floating-rate notes at Libor plus 114 basis points, $105 million of class B senior secured floating-rate notes at Libor plus 165 bps, $45 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $45 million of class D senior secured deferrable floating-rate notes at Libor plus 305 bps, $29.07 million of class E senior secured deferrable floating-rate notes at Libor plus 625 bps and $61 million of subordinated notes.
Credit Suisse Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 22, 2026.
Collateral for the notes primarily comes from senior secured loans, cash and eligible investments with most loan borrowers based in the United States, Australia, New Zealand, the United Kingdom and the Netherlands.
The notes can be called starting Oct. 22, 2023.
J.P. Morgan Securities LLC was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XXXIX Ltd./Madison Park Funding XXXIX LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $750.07 million
|
| Maturity: | Oct. 22, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Credit Suisse Asset Management LLC
|
| Call feature: | Oct. 22, 2023
|
| Settlement date: | Oct. 28
|
|
|
| Class A notes
|
| Amount: | $465 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $105 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $45 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $45 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 305 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $29.07 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $61 million
|
| Securities: | Subordinated notes
|
|
|
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