Credit Suisse Asset Management offers $814 million notes in Madison Park Funding XXXII CLO

By Cristal Cody

Tupelo, Miss., Dec. 14 – Credit Suisse Asset Management, LLC plans to price $814 million of notes due Jan. 22, 2031 in the Madison Park Funding XXXII Ltd./Madison Park Funding XXXII LLC collateralized loan obligation transaction, according to a market source.

The deal includes $2 million of class X floating-rate notes (//AAA); $480 million of class A-1 floating-rate notes (/AAA/AAA); $36 million of class A-2 fixed-rate notes (//AAA); $88 million of class B floating-rate notes (/AA/); $56 million of class C deferrable floating-rate notes (/A/); $42 million of class D deferrable floating-rate notes (/BBB-/); $30 million of class E deferrable floating-rate notes (/BB-/) and $80 million of subordinated notes.

J.P. Morgan Securities LLC is the placement agent.

The CLO has a two-year non-call period and a five-year reinvestment period.

The notes are collateralized primarily by broadly syndicated senior secured loans.

The deal is expected to close on Jan. 31.

CSAM has priced five new issue CLOs in 2018, including the $816.7 million Madison Park Funding XXXI Ltd./Madison Park Funding XXXI LLC transaction on Nov. 8.

Credit Suisse Asset Management is a unit of Credit Suisse Group AG.

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