Chicago, April 7 – Credit Suisse Asset Management, LLC sold $657.2 million of notes in a collateralized loan obligation issued by Madison Park Funding LIII, Ltd., according to a new issue report and a press release.
The notes will mature on April 23, 2035.
The CLO consists of $416 million of class A senior floating-rate notes at SOFR plus 130 basis points, $74.8 million of class B senior floating-rate notes at SOFR plus 175 bps, $39 million of class C deferrable mezzanine floating-rate notes at SOFR plus 210 bps, $42.3 million of class D deferrable mezzanine floating-rate notes at SOFR plus 320 bps, $26 million of class E deferrable mezzanine floating-rate notes at SOFR plus 600 bps and $59.1 million of subordinated notes.
Credit Suisse Asset Management, LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
Natixis Securities Americas LLC was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding LIII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $657.2 million
|
| Maturity: | April 23, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis Securities Americas LLC
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Settlement date: | March 31
|
|
|
| Class A notes
|
| Amount: | $416 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 130 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $74.8 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $39 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 210 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $42.3 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 320 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $26 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 600 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $59.1 million
|
| Securities: | Subordinated notes
|
|
|
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