GSO/Blackstone Debt Funds to price $1.03 billion notes in new Cook Park CLO transaction

By Cristal Cody

Tupelo, Miss., Feb. 28 – GSO/Blackstone Debt Funds Management LLC plans to price $1,025,000,000 of notes due April 17, 2031 in the Cook Park CLO, Ltd./Cook Park CLO, LLC transaction, according to a market source.

The deal includes $595 million of class A-1 senior secured floating-rate notes (AAA); $60 million of class A-2 floating-rate notes (non-rated); $90 million of class B senior secured floating-rate notes (AA); $74 million of class C mezzanine secured deferrable floating-rate notes (A); $61 million of class D mezzanine secured deferrable floating-rate notes (BBB-); $38 million of class E deferrable floating-rate notes (BB-) and $107 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

GSO/Blackstone will manage the CLO.

The CLO has a two-year non-call period and a five-year reinvestment period.

The offering is backed primarily by broadly syndicated first-lien senior secured corporate loans.

The New York City-based investment management firm is a subsidiary of the Blackstone Group, LP.

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