Chicago, May 30 – Credit Suisse Asset Management Ltd. refinanced for €527.8 million the collateralized loan obligation issued by Madison Park Euro Funding XIV DAC, according to multiple press releases and the listing particulars.
The notes will mature in 2032.
The CLO now consists of €324.4 million of class A-1-R senior secured floating-rate notes at Euribor plus 80 basis points, €47.7 million of class B-1-R senior secured floating-rate notes at Euribor plus 170 bps, €37.25 million of class C-1-R senior secured floating-rate notes at Euribor plus 240 bps, €31 million of class D-R senior secured deferrable floating-rate notes at Euribor plus 360 bps, €25.75 million of class E-R senior secured deferrable floating-rate notes at Euribor plus 604 bps, €15.4 million of class F-R senior secured deferrable floating-rate notes at Euribor plus 882 bps and €46.3 million of subordinated notes.
Credit Suisse Asset Management Ltd. will manage the collateral through the end of the reinvestment period on Jan. 15, 2024.
Collateral for the notes consists of secured senior loans or senior secured bonds.
The notes can be called starting Dec. 21, 2022.
Citigroup Global Markets ltd. was the placement agent.
Credit Suisse Asset Management is a subsidiary of Zurich-based Credit Suisse AG.
| Issuer: | Madison Park Euro Funding XIV DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €527.8 million
|
| Maturity: | 2032
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup Global Markets ltd.
|
| Manager: | Credit Suisse Asset Management Ltd.
|
| Call feature: | Dec. 21, 2022
|
| Settlement date: | Dec. 21, 2021
|
|
|
| Class A-1-R notes
|
| Amount: | €324.4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 80 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B-1-R notes
|
| Amount: | €47.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C-1-R notes
|
| Amount: | €37.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 240 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D-R notes
|
| Amount: | €31 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 360 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E-R notes
|
| Amount: | €25.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 604 bps
|
| Price: | 97.5
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F-R notes
|
| Amount: | €15.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 882 bps
|
| Price: | 96.5
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €46.3 million
|
| Securities: | Subordinated notes
|
|
|
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