Chicago, March 29 – Credit Suisse Asset Management, LLC is selling $594.8 million of notes in a collateralized loan obligation being issued by Madison Park Funding LXIII, Ltd., according to presale reports.
The notes will mature on April 21, 2035.
The CLO consists of $369 million of class A-1 senior floating-rate notes, $16.2 million of class A-2 senior floating-rate notes at SOFR plus bps, $70.8 million of class B senior floating-rate notes, $35.4 million of class C deferrable mezzanine floating-rate notes, $36.6 million of class D deferrable mezzanine floating-rate notes, $22.2 million of class E deferrable mezzanine floating-rate notes, $250,000 of class F deferrable junior floating-rate notes and $44.35 million of subordinated notes.
Spreads had not yet been set in the presale reports.
Credit Suisse Asset Management, LLC will manage the collateral through the end of the reinvestment period on April 21, 2028.
Collateral for the notes consists of non-investment-grade broadly syndicated loans.
The notes can be called starting May 1, 2025.
Nomura Securities International, Inc. was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding LXIII, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $594.8 million
|
| Maturity: | April 21, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Nomura Securities International, Inc.
|
| Manager: | Credit Suisse Asset Management, LLC
|
| Call feature: | May 1, 2025
|
| Settlement date: | May 1
|
|
|
| Class A-1 notes
|
| Amount: | $369 million
|
| Securities: | Senior floating-rate notes
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $16.2 million
|
| Securities: | Senior floating-rate notes
|
| Rating: | Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $70.8 million
|
| Securities: | Senior floating-rate notes
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $35.4 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $36.6 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $22.2 million
|
| Securities: | Deferrable mezzanine floating-rate notes
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $250,000
|
| Securities: | Deferrable junior floating-rate notes
|
| Rating: | Moody's: B3
|
|
|
| Subordinated notes
|
| Amount: | $44.35 million
|
| Securities: | Subordinated notes
|
|
|
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