Chicago, Oct. 30 – Credit Suisse Asset Management, LLC sold $399.06 million of notes due January 2034 in a collateralized loan obligation in five parts plus a subordinated notes class, according to a presale report.
The transaction, being issued by Madison Park Funding XLVII, Ltd./Madison Park Funding XLVII, LLC consists of:
• $240 million of class A floating-rate notes at Libor plus 137 basis points:
• $64 million of class B floating-rate notes at Libor plus 185 basis points:
• $24 million of class C floating-rate notes at Libor plus 255 basis points:
• $23 million of class D floating-rate notes at Libor plus 400 basis points:
• $13 million of class E floating-rate notes at Libor plus 746 basis points: and
• $35.06 million of subordinated notes.
The notes feature a non-call period that ends in January 2023.
The reinvestment period for the notes ends in January 2026.
MUFG Securities Americas Inc. is the underwriter.
The notes are backed by a portfolio of non-investment-grade broadly syndicated loans and other assets purchased in the primary and secondary markets.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
Issuer: | Madison Park Funding XLVII Ltd./Madison Park Funding XLVII LLC
|
Amount: | $399.06 million
|
Maturity: | January 2034
|
Securities: | Floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | MUFG Securities Americas Inc.
|
Manager: | Credit Suisse Asset Management, LLC
|
Call feature: | January 2023
|
Pricing date: | Oct. 30
|
Settlement date: | December 2020
|
|
Class A notes
|
Amount: | $240 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 137 bps
|
Ratings: | Moody’s: Aaa
|
|
Class B-1 notes
|
Amount: | $64 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 185 bps
|
|
Class C notes
|
Amount: | $24 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 255 bps
|
|
Class D notes
|
Amount: | $23 million
|
Securities: | Deferrable floating-rate notes
|
Coupon: | Libor plus 400 bps
|
|
Class E notes
|
Amount: | $13 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 746 bps
|
|
Equity
|
Amount: | $35.06 million
|
Securities: | Subordinated notes
|
|
© 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.