GSO/Blackstone, Benefit Street price new CLOs; Monroe Capital brings middle-market deal

By Cristal Cody

Tupelo, Miss., Sept. 28 – GSO/Blackstone Debt Funds Management LLC priced more than $1.02 billion of notes in a new CLO deal.

Also in the primary market, Benefit Street Partners LLC priced a $712.9 million CLO.

In the middle-market space, Monroe Capital Management LLC sold $405 million of notes in a new offering.

More than $70 billion of new broadly syndicated CLOs and about $10 billion of middle-market CLOs have priced year to date, sources report.

In its deal, GSO/Blackstone Debt Funds Management priced $1,022,000,000 of notes due Oct. 15, 2030 in the Gilbert Park CLO, Ltd./Gilbert Park CLO, LLC transaction, according to a market source.

The CLO sold $650 million of senior secured floating-rate notes at Libor plus 119 basis points in the class A tranche.

Morgan Stanley & Co. LLC was the placement agent.

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.

Meanwhile, Benefit Street Partners priced $712.9 million of notes due Oct. 15, 2030 in a new CLO deal, according to a market source.

Benefit Street Partners CLO XII, Ltd./Benefit Street Partners CLO XII LLC sold $451.5 million of class A-1 senior secured floating-rate notes at Libor plus 125 bps at the top of the capital stack.

BofA Merrill Lynch was the placement agent.

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