Chicago, Feb. 8 – Credit Suisse Asset Management, LLC sold $699.5 million in a collateralized loan obligation issued by Madison Park Funding LIX, Ltd., according to multiple notices.
The notes will mature on Jan. 18, 2034.
The CLO consists of $434 million of class A senior floating-rate notes at Libor plus 114 basis points, $98 million of class B senior floating-rate notes at Libor plus 170 bps, $42 million of class C mezzanine deferrable floating-rate notes at Libor plus 210 bps, $42 million of class D mezzanine deferrable floating-rate notes at Libor plus 300 bps, $28 million of class E mezzanine deferrable floating-rate notes at Libor plus 660 bps and $55.5 million of subordinated notes.
Credit Suisse Asset Management, LLC will manage the collateral through the end of the three-year reinvestment period.
Backing the notes is a portfolio of first-lien senior secured loans.
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 LIX, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $699.5 million
|
| Maturity: | Jan. 18, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Settlement date: | Dec. 29
|
|
|
| Class A notes
|
| Amount: | $434 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 114 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: NR
|
|
|
| Class B notes
|
| Amount: | $98 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: NR
|
|
|
| Class C notes
|
| Amount: | $42 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | Moody's: NR
|
| Fitch: A+
|
|
|
| Class D notes
|
| Amount: | $42 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | Moody's: NR
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $28 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | Libor plus 660 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: NR
|
|
|
| Subordinated notes
|
| Amount: | $55.5 million
|
| Securities: | Subordinated notes
|
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