Chicago, May 12 – Credit Suisse Asset Management, LLC sold $499.1 million in a collateralized loan obligation being issued by Madison Park Funding LVII, Ltd., according to a presale report and a press release.
The notes will mature on July 27, 2034.
The CLO consists of $307.5 million of class A-1 senior floating-rate notes at SOFR plus 144 basis points, $17.5 million of class A-2 senior floating-rate notes at SOFR plus 175 bps, $55 million of class B senior floating-rate notes at SOFR plus 200 bps, $30 million of class C deferrable mezzanine floating-rate notes at SOFR plus 245 bps, $30 million of class D deferrable mezzanine floating-rate notes at SOFR plus 360 bps, $20 million of class E deferrable mezzanine floating-rate notes at SOFR plus 734 bps and $39.1 million of subordinated notes.
Credit Suisse Asset Management, LLC will manage the collateral through the end of the 5.1-year reinvestment period.
Collateral for the notes consists of first-lien senior secured leveraged loans.
J.P. Morgan Securities LLC was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding LVII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $499.1 million
|
| Maturity: | July 27, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | J.P. Morgan Securities LLC
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Settlement date: | July 6
|
|
|
| Class A-1 notes
|
| Amount: | $307.5 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 144 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $17.5 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $55 million
|
| Securities: | Senior floating-rate notes
|
| Coupon: | SOFR plus 200 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 360 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Coupon: | SOFR plus 734 bps
|
| Rating: | Moody's: Ba3
|
|
|
| Subordinated notes
|
| Amount: | $39.1 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.
