Chicago, Sept. 13 – Credit Suisse Asset Management Ltd. sold €400 million in a collateralized loan obligation being issued by Madison Park Euro Funding XX DAC, according to a new issue report and a press release.
The notes will mature on Oct. 15, 2036.
The CLO consists of €186 million of class A-1 senior secured floating-rate notes at Euribor plus 208 basis points, €42 million of class A-1 senior secured floating-rate loans at Euribor plus 208 bps, €12 million of class A-2 senior secured floating-rate notes at Euribor plus 218 bps, €33 million of class B-1 senior secured floating-rate notes at Euribor plus 359 bps, €7 million of class B-2 5.65% senior secured fixed-rate notes, €26 million of class C senior secured deferrable floating-rate notes at Euribor plus 472 bps, €26 million of class D senior secured deferrable floating-rate notes at Euribor plus 609 bps, €17 million of class E senior secured deferrable floating-rate notes at Euribor plus 786 bps, €14.5 million of class F senior secured deferrable floating-rate notes at Euribor plus 1029 bps and €36.5 million of subordinated notes.
Credit Suisse Asset Management Ltd. will manage the collateral through the end of the 3.6-year reinvestment period.
Collateral for the notes consists of mainly senior secured loans and secured senior bonds.
The notes can be called starting February 2024.
Credit Suisse Asset Management is a subsidiary of Zurich-based Credit Suisse AG.
| Issuer: | Madison Park Euro Funding XX DAC
|
| Issue: | Floating-rate notes, floating-rate loans, fixed-rate notes and subordinated notes
|
| Amount: | €400 million
|
| Maturity: | Oct. 15, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Credit Suisse Asset Management Ltd.
|
| Call feature: | February 2024
|
| Settlement date: | Aug. 26
|
|
|
| Class A-1 notes
|
| Amount: | €186 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 208 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1 loans
|
| Amount: | €42 million
|
| Securities: | Senior secured loans
|
| Coupon: | Euribor plus 208 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | €12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 218 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €33 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 359 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | €7 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.65%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 472 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €26 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 609 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €17 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 786 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €14.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 1029 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €36.5 million
|
| Securities: | Subordinated notes
|
|
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