By Cristal Cody
Tupelo, Miss., March 9 – Blackstone/GSO Debt Funds Management Europe Ltd. priced a €409.1 million euro-denominated collateralized loan obligation offering of notes due 2032, according to market sources.
Vesey Park CLO DAC sold €2 million of class X floating-rate notes at Euribor plus 60 basis points, €243 million of class A-1 floating-rate notes at Euribor plus 97 bps, €30 million of class A-2A floating-rate notes at Euribor plus 170 bps and €15 million of 2.05% class A-2B fixed-rate notes.
The CLO also priced €30 million of class B floating-rate notes at Euribor plus 230 bps; €23 million of class C floating-rate notes at Euribor plus 450 bps; €21 million of class D floating-rate notes at Euribor plus 730 bps; €10 million of class E floating-rate notes at Euribor plus 1,025 bps and €35.1 million of subordinated notes.
Merrill Lynch International was the placement agent.
The CLO is backed primarily by euro-denominated secured senior obligations.
Blackstone/GSO is a Dublin-based manager and affiliate of Blackstone Group LP.
| Issuer: | Vesey Park CLO DAC
|
| Amount: | €409.1 million
|
| Maturity: | 2032
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Merrill Lynch International
|
| Manager: | Blackstone/GSO Debt Funds Management Europe Ltd.
|
| Pricing date: | March 6
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 60 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | €243 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 97 bps
|
| Ratings: | Fitch: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Ratings: | Fitch: AA
|
|
|
| Class A-2B
|
| notes
|
| Amount: | €15 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.05%
|
| Ratings: | Fitch: AA
|
|
|
| Class B notes
|
| Amount: | €30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 230 bps
|
| Ratings: | Fitch: A
|
|
|
| Class C notes
|
| Amount: | €23 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 450 bps
|
| Ratings: | Fitch: BBB-
|
|
|
| Class D notes
|
| Amount: | €21 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 730 bps
|
| Ratings: | Fitch: BB-
|
|
|
| Class E notes
|
| Amount: | €10 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 1,025 bps
|
| Ratings: | Fitch: B-
|
|
|
| Equity
|
| Amount: | €35.1 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
|
|
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