Chicago, Aug. 9 – Credit Suisse Asset Management Ltd. sold €395.6 million of notes in a collateralized loan obligation issued by Madison Park Euro Funding XIX DAC, according to an offering document.
The notes will mature on April 15, 2036.
The CLO consists of €228 million of class A-1 senior secured floating-rate notes at SOFR plus 190 basis points, €12 million of class A-2 4.5% senior secured fixed-rate notes, €28 million of class B-1 senior secured floating-rate notes at SOFR plus 315 bps, €15 million of class B-2 7.05% senior secured fixed-rate notes, €23 million of class C senior secured deferrable floating-rate notes at SOFR plus 390 bps, €25 million of class D senior secured deferrable floating-rate notes at SOFR plus 620 bps, €18 million of class E senior secured deferrable floating-rate notes at SOFR plus 783 bps, €18 million of class F senior secured deferrable floating-rate notes at SOFR plus 1,000 bps and €28.6 million of subordinated notes.
Credit Suisse Asset Management Ltd. will manage the collateral through the end of the reinvestment period on Jan. 15, 2028.
Collateral for the notes consists of senior, mezzanine, second-lien loans, first-lien last-out loans and high-yield bonds.
The notes can be called starting Dec. 29, 2024.
Natixis was the placement agent.
Credit Suisse was part of the acquisition of UBS Group AG since June 12, 2023.
| Issuer: | Madison Park Euro Funding XIX DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €395.6 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | Natixis
|
| Manager: | Credit Suisse Asset Management Ltd.
|
| Call feature: | Dec. 29, 2024
|
| Pricing date: | June 28
|
| Settlement date: | June 29
|
|
|
| Class A-1 notes
|
| Amount: | €228 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | €12 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.5%
|
| Price: | Par
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €28 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 315 bps
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €15 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.05%
|
| Price: | Par
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €23 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 390 bps
|
| Price: | Par
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 620 bps
|
| Price: | Par
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 783 bps
|
| Price: | 93.5
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 1,000 bps
|
| Price: | 91
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €28.6 million
|
| Securities: | Subordinated notes
|
|
|
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