Chicago, Feb. 18 – Blackstone Ireland Ltd. refinanced four notes for €272.5 million from the collateralized loan obligation issued by Marino Park CLO DAC, according to multiple notices.
The notes will mature on Jan. 16, 2034.
The refinanced notes from the CLO consists of €201.5 million of class A-1 senior secured floating-rate notes at Euribor plus 82 basis points, €30.5 million of class A-2 senior secured floating-rate notes at Euribor plus 165 bps, €22.5 million of class B senior secured deferrable floating-rate notes at Euribor plus 215 bps and €18 million of class C senior secured deferrable floating-rate notes at Euribor plus 330 bps.
Blackstone Ireland Ltd. will manage the collateral through the end of the reinvestment period on January 2024.
Collateral for the notes mostly comes from senior secured loans or senior secured bonds.
Merrill Lynch International was the placement agent.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Marino Park CLO DAC
|
| Issue: | Floating-rate notes
|
| Amount: | €272.5 million
|
| Maturity: | Jan. 16, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Blackstone Ireland Ltd.
|
| Settlement date: | Feb. 8
|
|
|
| Class A-1 notes
|
| Amount: | €201.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 82 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A-2 notes
|
| Amount: | €30.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 165 bps
|
| Rating: | Moody's: Aa2
|
|
|
| Class B notes
|
| Amount: | €22.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Moody's: A2
|
|
|
| Class C notes
|
| Amount: | €18 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 330 bps
|
| Rating: | Moody's: Baa3
|
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