Chicago, April 22 – Blackstone Ireland Ltd. priced €403.8 million in a collateralized loan obligation being issued by Fernhill Park CLO DAC, according to a presale report.
The notes will mature on April 15, 2037.
The CLO consists of €244 million of class A floating-rate notes at Euribor plus 147 basis points, €48 million of class B floating-rate notes at Euribor plus 230 bps, €24 million of class C floating-rate notes at Euribor plus 275 bps, €28 million of class D floating-rate notes at Euribor plus 420 bps, €18 million of class E floating-rate notes at Euribor plus 735 bps, €12 million of class F floating-rate notes at Euribor plus 880 bps and €29.8 million of subordinated notes.
Blackstone Ireland Ltd. will manage the collateral through the end of the reinvestment period on Jan. 15, 2029.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans and bonds.
The notes can be called starting Oct. 15, 2025.
BofA Securities was the placement agent.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Fernhill Park CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €403.8 million
|
| Maturity: | April 15, 2037
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities
|
| Manager: | Blackstone Ireland Ltd.
|
| Call feature: | Oct. 15, 2025
|
| Pricing date: | April 15
|
| Settlement date: | May 29
|
|
|
| Class A notes
|
| Amount: | €244 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 147 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €48 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €28 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 420 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €18 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 735 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 880 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €29.8 million
|
| Securities: | Subordinated notes
|
|
|
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