GSO/Blackstone preps $509.85 million Bowman Park CLO offering

By Cristal Cody

Tupelo, Miss., Dec. 10 – GSO/Blackstone Debt Funds Management LLC plans to price a $509.85 million collateralized loan obligation deal, according to a market source.

The Bowman Park CLO Ltd./Bowman Park CLO LLC transaction includes $304.6 million of class A senior secured floating-rate notes (Aaa/AAA/); $43 million of class B-1 senior secured floating-rate notes (/AA/); $25 million of class B-2 senior secured fixed-rate notes (/AA/); $31.5 million of class C secured deferrable floating-rate notes (/A/); $32.8 million of class D secured deferrable floating-rate notes (/BBB-/); $20.4 million of class E secured deferrable floating-rate notes (/BB-/); $8.4 million of class F secured deferrable floating-rate notes (/B/) and $44.15 million of subordinated notes.

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

GSO/Blackstone will manage the CLO.

The CLO is non-callable until Nov. 28, 2016. The reinvestment period ends Nov. 28, 2018.

The notes are due Nov. 28, 2025.

The transaction is backed primarily by broadly syndicated first-lien senior secured loans, cash and eligible investments.

The deal is scheduled to close on Jan. 21.

GSO/Blackstone previously was in the U.S. primary market in September with the $564.3 million Thacher Park CLO Ltd./Thacher Park CLO LLC offering.

The New York City-based subsidiary of alternative asset manager GSO Capital Partners LP has priced four U.S. CLO transactions in 2014.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.