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Year-end pipeline fills; GSO/Blackstone preps $509.85 million CLO; Highbridge on calendar
By Cristal Cody
Tupelo, Miss., Dec. 10 – Primary activity is forecast to stay steady through the end of the year in the collateralized loan obligation market with two more managers joining the deal pipeline, according to market sources on Wednesday.
GSO/Blackstone Debt Funds Management LLC plans to price a $509.85 million CLO offering, a source said. GSO/Blackstone’s fifth U.S. CLO deal of the year, the Bowman Park CLO Ltd./Bowman Park CLO LLC offering includes fixed-rate and floating-rate tranches.
Highbridge Principal Strategies LLC is expected to bring $518.5 million of notes in the firm’s second CLO transaction this year, according to a market source.
More than $149 billion of CLOs have priced globally year to date, according to data compiled by Prospect News.
GSO/Blackstone Debt Funds Management is underway with plans to price a $509.85 million CLO deal, according to a market source.
The Bowman Park CLO 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.
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