Chicago, Jan. 20 – Credit Suisse Asset Management LLC sold $508.73 million in a collateralized loan obligation being issued by Madison Park Funding LII Ltd./Madison Park Funding LII LLC, according to a pre-sale report.
The notes will mature on Jan. 22, 2035.
The CLO consists of $5 million of class X senior secured floating-rate notes at Libor plus 90 basis points, $320 million of class A senior secured floating-rate notes at Libor plus 110 bps, $59.5 million of class B senior secured floating-rate notes at Libor plus 160 bps, $28 million of class C senior secured deferrable floating-rate notes at Libor plus 200 bps, $32.5 million of class D senior secured deferrable floating-rate notes at Libor plus 315 bps, $20 million of class E senior secured deferrable floating-rate notes at Libor plus 650 bps and $43.73 million of subordinated notes..
Credit Suisse Asset Management LLC will manage the collateral through the end of the reinvestment period on Jan. 22, 2027.
The collateral pool primarily is composed of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Dec. 29, 2023.
Nomura Securities International Inc. was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
Issuer: | Madison Park Funding LII Ltd./Madison Park Funding LII LLC
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Issue: | Floating-rate notes and subordinated notes
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Amount: | $508.73 million
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Maturity: | Jan. 22, 2035
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Structure: | Cash flow CLO
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Placement agent: | Nomura Securities International Inc.
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Manager: | Credit Suisse Asset Management LLC
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Call feature: | Dec. 29, 2023
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Settlement date: | Dec. 29
|
|
Class X notes
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Amount: | $5 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 90 bps
|
Rating: | S&P: AAA
|
|
Class A notes
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Amount: | $320 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 110 bps
|
Rating: | S&P: NR
|
|
Class B notes
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Amount: | $59.5 million
|
Securities: | Senior secured floating-rate notes
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Coupon: | Libor plus 160 bps
|
Rating: | S&P: AA
|
|
Class C notes
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Amount: | $28 million
|
Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 200 bps
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Rating: | S&P: A
|
|
Class D notes
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Amount: | $32.5 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 315 bps
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Rating: | S&P: BBB-
|
|
Class E notes
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Amount: | $20 million
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Securities: | Senior secured deferrable floating-rate notes
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Coupon: | Libor plus 650 bps
|
Rating: | S&P: NR
|
|
Subordinated notes
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Amount: | $43.73 million
|
Securities: | Subordinated notes
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