By Cristal Cody
Tupelo, Miss., March 17 – GSO/Blackstone Debt Funds Management LLC priced a $616.8 million collateralized loan obligation transaction, according to a market source.
Treman Park CLO Ltd./Treman Park CLO LLC sold $390 million of class A floating-rate notes at Libor plus 150 basis points; $63.6 million of class B floating-rate notes at Libor plus 220 bps; $30.6 million of class C floating-rate notes at Libor plus 315 bps; $38.4 million of class D floating-rate notes at Libor plus 386 bps; $31.8 million of class E floating-rate notes at Libor plus 620 bps and $62.4 million of subordinated notes.
Goldman Sachs & Co. was the placement agent.
GSO/Blackstone will manage the CLO.
GSO/Blackstone previously was in the market in February with the $509.44 million Dorchester Park CLO Ltd./Dorchester Park CLO LLC deal.
The New York City-based subsidiary of alternative asset manager GSO Capital Partners LP priced five U.S. CLO transactions in 2014.
Issuer: | Treman Park CLO Ltd./Treman Park CLO LLC
|
Amount: | $616.8 million
|
Securities: | Floating-rate and subordinated notes
|
Structure: | Cash flow CLO
|
Placement agent: | Goldman Sachs & Co.
|
Manager: | GSO/Blackstone Debt Funds Management LLC
|
Pricing date: | March 5
|
|
Class A notes
|
Amount: | $390 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 150 bps
|
Price: | Par
|
Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
Class B notes
|
Amount: | $63.6 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 220 bps
|
Price: | Par
|
Rating: | Moody’s: Aa2 expected
|
|
Class C notes
|
Amount: | $30.6 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 315 bps
|
Price: | Par
|
Rating: | Moody’s: A2 expected
|
|
Class D notes
|
Amount: | $38.4 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 386 bps
|
Price: | 97.75
|
Rating: | Moody’s: Baa3 expected
|
|
Class E notes
|
Amount: | $31.8 million
|
Securities: | Floating-rate notes
|
Coupon: | Libor plus 620 bps
|
Price: | 97.2425
|
Rating: | Moody’s: Ba3 expected
|
|
Equity
|
Amount: | $62.4 million
|
Securities: | Subordinated notes
|
Ratings: | Non-rated
|
© 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.