Chicago, July 6 – Blackstone Ireland Ltd. sold €350.63 million in a collateralized loan obligation being issued by Glenbrook Park CLO DAC, according to presale reports.
The notes will mature on July 21, 2036.
The CLO consists of €217 million of class A floating-rate notes at Euribor plus 185 basis points, €34.3 million of class B floating-rate notes at Euribor plus 305 bps, €18.9 million of class C floating-rate notes at Euribor plus 390 bps, €22 million of class D floating-rate notes at Euribor plus 575 bps, €16.25 million of class E floating-rate notes at Euribor plus 758 bps, €11.5 million of class F delayed-draw floating-rate notes at Euribor plus 1,000 bps and €30.675 million of subordinated notes.
Blackstone Ireland Ltd. will manage the collateral through the end of the 4.53-year reinvestment period.
Collateral for the notes consists of syndicated senior secured loans and bonds.
The notes can be called starting after 1.51 years.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Glenbrook Park CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €350.625 million
|
| Maturity: | July 21, 2036
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Ireland Ltd.
|
| Call feature: | 1.51-year
|
| Announcement date: | June 27
|
|
|
| Class A notes
|
| Amount: | €217 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 185 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €34.3 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 305 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €18.9 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 390 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €22 million
|
| Securities: | floating-rate notes
|
| Coupon: | Euribor plus 575 bps
|
| Rating: | S&P: BBB-
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €16.25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 758 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €11.5 million
|
| Securities: | Delayed-draw floating-rate notes
|
| Coupon: | Euribor plus 1,000 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €30.675 million
|
| Securities: | Subordinated notes
|
|
|
|
|
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