Nomura has priced the $508.7 million Madison Park Funding LII CLO, with an L+110 triple-A coupon that represents the tightest term spread on a standard-dated CLO in five months.

The deal is the second primary-market CLO Nomura has priced in 2021 for manager Credit Suisse Asset Management LLC, which has priced seven new-issue deals in 2021 totaling approximately $4.36 billion.

Deal terms are as follows:

The 110 basis point spread is the tightest Libor-benchmarked triple-A pricing of any standard-term (two-year non-call, five-year reinvestment period), new-issue BSL CLO since BlackRock Financial Management priced its Magnetite XXXI Ltd. CLO deal via Goldman Sachs on June 29.

The deal's expected closing date is Dec. 29.