By Cristal Cody
Tupelo, Miss., March 9 – GSO/Blackstone Debt Funds Management LLC refinanced $476.85 million of notes due Oct. 20, 2026 at par in the vintage 2014 Thacher Park CLO, Ltd./Thacher Park CLO, LLC transaction, according to a market source on Thursday.
The CLO sold $357.5 million of class A-R floating-rate notes at Libor plus 116 basis points; $58.3 million of class B-R floating-rate notes at Libor plus 155 bps; $26.95 million of class C-R floating-rate notes at Libor plus 220 bps; $23.1 million of class D-1-R floating-rate notes at Libor plus 340 bps and $11 million of class D-2-R floating-rate notes at Libor plus 340 bps.
BofA Merrill Lynch was the refinancing agent.
GSO/Blackstone will continue to manage the CLO.
The CLO manager priced five new U.S. CLOs and refinanced one vintage CLO in 2016.
The New York City-based firm is a subsidiary of alternative asset manager GSO Capital Partners LP.
| Issuer: | Thacher Park CLO, Ltd./Thacher Park CLO, LLC
|
| Amount: | $476.85 million refinancing
|
| Maturity: | Oct. 20, 2026
|
| Securities: | Floating-rate notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Merrill Lynch
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 9
|
|
|
| Class A-R notes
|
| Amount: | $357.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 116 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA
|
|
|
| Class B-R notes
|
| Amount: | $58.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 155 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C-R notes
|
| Amount: | $26.95 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D-1-R notes
|
| Amount: | $23.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Price: | Par
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class D-2-R notes
|
| Amount: | $11 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 340 bps
|
| Price: | Par
|
| Rating: | Moody’s: Baa3 expected
|
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