Chicago, Dec. 21 – Credit Suisse Asset Management LLC sold $752.78 million in a collateralized loan obligation being issued by Madison Park Funding XLIX Ltd./Madison Park Funding XLIX LLC, according to a pre-sale report.
The notes will mature on Oct. 19, 2034.
The CLO consists of $450 million of class A senior floating-rate notes at Libor plus 113 basis points, $110 million of class B-1 senior floating-rate notes at Libor plus 170 bps, $10 million of class B-2 2.75% senior fixed-rate notes, $45 million of class C senior floating-rate notes at Libor plus 205 bps, $45 million of class D senior floating-rate notes at Libor plus 320 bps, $24.38 million of class E senior floating-rate notes at Libor plus 625 bps and $68.4 million of subordinated notes.
Credit Suisse Asset Management LLC will manage the collateral through the end of the reinvestment period on Oct. 19, 2026.
Collateral comes from broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 19, 2023.
BofA Securities Inc. was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XLIX Ltd./Madison Park Funding XLIX LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $752.78 million
|
| Maturity: | Oct. 19, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Credit Suisse Asset Management LLC
|
| Call feature: | Oct. 19, 2023
|
| Settlement date: | Nov. 22
|
|
|
| Class A notes
|
| Amount: | $450 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $110 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $10 million
|
| Securities: | Senior fixed-rate notes
|
| Coupon: | 2.75%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $45 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $45 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 320 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24.38 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 625 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $68.4 million
|
| Securities: | Subordinated notes
|
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