Chicago, Aug. 13 – Credit Suisse Asset Management LLC refinanced and extended for $450.65 million a collateralized loan obligation originally issued by Madison Park Funding XLV Ltd./Madison Park Funding XLV LLC, according to a pre-sale report.
The notes will now mature on July 15, 2034.
The refinanced CLO consists of $265.5 million of class A-R senior secured floating-rate notes at Libor plus 112 basis points, $76.5 million of class B-R senior secured floating-rate notes at Libor plus 170 bps, $25 million of class C-R senior secured deferrable floating-rate notes at Libor plus 205 bps, $28.5 million of class D-R senior secured deferrable floating-rate notes at Libor plus 315 bps, $18.25 million of class E-R senior secured deferrable floating-rate notes at Libor plus 635 bps and $36.9 million of subordinated notes.
The original CLO had $244 million of class A floating-rate notes at Libor plus 165 bps and $56 million of class B floating-rate notes at Libor plus 215 bps.
Madison Park XLV also originally priced $26 million of class C deferrable floating-rate notes at Libor plus 270 bps, $22 million of class D deferrable floating-rate notes at Libor plus 400 bps, $14 million of class E deferrable floating-rate notes at Libor plus 740 bps and $36.9 million of subordinated notes.
Credit Suisse Asset Management LLC will manage the collateral through the end of the reinvestment period on July 15, 2026.
The notes can be called starting July 15, 2023.
BofA Securities Inc. was the placement agent.
Credit Suisse Asset Management is a unit of Credit Suisse Group AG.
| Issuer: | Madison Park Funding XLV Ltd./Madison Park Funding XLV LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $450.65 million
|
| Maturity: | July 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | Credit Suisse Asset Management LLC
|
| Call feature: | July 15, 2023
|
| Settlement date: | July 15
|
|
|
| Class A-R notes
|
| Amount: | $265.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 112 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $76.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 205 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $28.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $18.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 635 bps
|
|
|
| Subordinated notes
|
| Amount: | $36.9 million
|
| Securities: | Subordinated notes
|
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