Credit Suisse Asset Management markets $620 million Madison Park Funding XVIII CLO

By Cristal Cody

Tupelo, Miss., Aug. 5 – Credit Suisse Asset Management, LLC plans to price $620 million of notes due Oct. 20, 2026 in a collateralized loan obligation transaction, according to a market source.

The Madison Park Funding XVIII Ltd./Madison Park Funding XVIII LLC deal includes $4 million of class X senior secured floating-rate notes (Aaa/AAA); $363 million of class A senior secured floating-rate notes (Aaa/AAA); $64 million of class B-1 senior secured floating-rate notes (Aa2//); $20 million of class B-2 senior secured fixed-rate notes (Aa2//); $39 million of class C senior secured deferrable floating-rate notes (A2//); $34.5 million of class D senior secured deferrable floating-rate notes (Baa3//); $31.5 million of class E senior secured deferrable floating-rate notes (Ba3//); and $64 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

Credit Suisse Asset Management will manage the CLO.

The CLO is non-callable until Oct. 20, 2017. The reinvestment period ends Oct. 20, 2019.

The transaction is backed primarily by broadly syndicated senior secured corporate loans.

Credit Suisse Asset Management has priced two U.S. CLOs and refinanced one vintage CLO year to date.

The firm is a unit of Credit Suisse Group AG.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.