Chicago, Jan. 6 – GSO/Blackstone Debt Funds Management LLC refinanced and extended for $515 million the collateralized loan obligation issued by Reese Park CLO Ltd./Reese Park CLO LLC, according to a pre-sale report.
The notes will now mature on Oct. 15, 2034.
The refinanced CLO consists of $5 million of class X-R senior secured floating-rate notes at Libor plus 90 basis points, $310 million of class A-R senior secured floating-rate notes at Libor plus 113 bps, $67 million of class B-R senior secured floating-rate notes at Libor plus 165 bps, $33 million of class C-R senior secured deferrable floating-rate notes at Libor plus 200 bps, $29.25 million of class D-R senior secured deferrable floating-rate notes at Libor plus 290 bps, $20.75 million of class E-R senior secured deferrable floating-rate notes at Libor plus 650 bps and $50 million of subordinated notes.
The CLO, from November 2020, originally sold $4 million of class X floating-rate notes at Libor plus 75 bps, $244 million of class A floating-rate notes at Libor plus 132 bps, $55.18 million of class B-1 floating-rate notes at Libor plus 175 bps and $4.82 million of 2.219% class B-2 fixed-rate notes.
Reese Park sold $24 million of class C deferrable floating-rate notes at Libor plus 245 bps, $24 million of class D deferrable floating-rate notes at Libor plus 375 bps, $12 million of class E deferrable floating-rate notes at Libor plus 597 bps and $40 million of subordinated notes.
GSO/Blackstone Debt Funds Management LLC will manage the collateral through the end of the reinvestment period on Oct. 15, 2026.
The notes can be called starting Oct. 15, 2023.
Goldman Sachs & Co. LLC was the placement agent.
The New York City-based firm is a subsidiary of alternative asset manager GSO Capital Partners LP.
| Issuer: | Reese Park CLO Ltd./Reese Park CLO LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $515 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Call feature: | Oct. 15, 2023
|
| Settlement date: | Nov. 23
|
|
|
| Class X-R notes
|
| Amount: | $5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Rating: | S&P: NR
|
|
|
| Class A-R notes
|
| Amount: | $310 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: NR
|
|
|
| Class B-R notes
|
| Amount: | $67 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 165 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $33 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $29.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $20.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 650 bps
|
| Rating: | S&P: NR
|
|
|
| Subordinated notes
|
| Amount: | $50 million
|
| Securities: | Subordinated notes
|
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