An Outstanding Recently Redeemed US CLO Equity

Madison Park Funding XLI (formerly Atrium XII) deal was recently called. This deal, managed by CSAM, was closed in late 2015. The deal’s average equity distribution was very impressive, at 19.1% over a period of around 8 years. This deal did a reset in late 2017, reduced its cost of funding significantly, and distributed excess par upon reset. The deal’s solid first distribution of 17.2% certainly helped boost the average annual distribution too. Without the par distributions, the deal’s annual distribution would likely be around the 17% mark rather than in the 19% area.