Chicago, April 28 – Blackstone Ireland Ltd. sold €404.5 million in a collateralized loan obligation being issued by Bushy Park CLO DAC, according to multiple press releases.
The notes will mature on April 15, 2036.
The CLO consists of €247 million of class A senior secured floating-rate notes at Euribor plus 170 basis points, €36 million of class B senior secured floating-rate notes at Euribor plus 305 bps, €24.5 million of class C senior secured deferrable floating-rate notes at Euribor plus 370 bps, €26.8 million of class D senior secured deferrable floating-rate notes at Euribor plus 520 bps, €17.3 million of class E senior secured deferrable floating-rate notes at Euribor plus 746 bps, €14.4 million of class F senior secured deferrable floating-rate notes at Euribor plus 915 bps and €38.5 million of subordinated notes.
Blackstone Ireland Ltd. will manage the collateral through the end of the reinvestment period on Oct. 15, 2027.
Collateral for the notes consists of senior secured obligations.
The notes can be called starting Oct. 15, 2024.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Bushy Park CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €404.5 million
|
| Maturity: | April 15, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Ireland Ltd.
|
| Call feature: | Oct. 15, 2024
|
| Settlement date: | March 21
|
|
|
| Class A notes
|
| Amount: | €247 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 305 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €24.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 370 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €26.8 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 520 bps
|
| Rating: | S&P: BBB
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €17.3 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 746 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €14.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 915 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €38.5 million
|
| Securities: | Subordinated notes
|
|
|
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