By Cristal Cody
Tupelo, Miss., Nov. 18 – GSO/Blackstone Debt Funds Management LLC priced $408 million of notes due Oct. 15, 2032 in the Reese Park CLO Ltd./Reese Park CLO LLC offering, according to market sources.
The CLO sold $4 million of class X floating-rate notes at Libor plus 75 basis points, $244 million of class A floating-rate notes at Libor plus 132 bps, $55.18 million of class B-1 floating-rate notes at Libor plus 175 bps and $4.82 million of 2.219% class B-2 fixed-rate notes.
Reese Park sold $24 million of class C deferrable floating-rate notes at Libor plus 245 bps, $24 million of class D deferrable floating-rate notes at Libor plus 375 bps, $12 million of class E deferrable floating-rate notes at Libor plus 597 bps and $40 million of subordinated notes.
Goldman Sachs & Co. LLC was the placement agent.
GSO/Blackstone will manage the CLO, which has a one-year non-call period and a three-year reinvestment period.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The New York City-based firm is a subsidiary of alternative asset manager GSO Capital Partners LP.
| Issuer: | Reese Park CLO Ltd./Reese Park CLO LLC
|
| Amount: | $408 million
|
| Maturity: | Oct. 15, 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co. LLC
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Call feature: | One year
|
| Settlement date: | Nov. 30
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class A notes
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| Amount: | $244 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 132 bps
|
| Ratings: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $55.18 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Ratings: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $4.82 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.219%
|
| Ratings: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 245 bps
|
| Ratings: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Ratings: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $12 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 597 bps
|
| Ratings: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $40 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
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