Blackstone/GSO markets €413.25 million of notes in Phoenix Park CLO

By Cristal Cody

Tupelo, Miss., June 26 – Blackstone/GSO Debt Funds Management Europe Ltd. intends to price €413.25 million of notes due 2027 in a European collateralized loan obligation deal, according to a market source.

The Phoenix Park CLO Ltd. offering is expected to include €236 million of class A-1 senior secured floating-rate notes (Aaa); €47 million of class A-2 senior secured floating-rate notes (Aa2); €24 million of class B senior secured deferrable floating-rate notes (A2); €23 million of class C senior secured deferrable floating-rate notes (Baa2); €24 million of class D senior secured deferrable floating-rate notes (Ba2) and €14 million of class E senior secured deferrable floating-rate notes (B2).

The deal will include a €45.25 million subordinated note equity tranche.

BofA Merrill Lynch is the placement agent.

Blackstone/GSO Debt Funds Management will manage the CLO.

The portfolio is collateralized primarily by secured senior obligations.

Blackstone/GSO Debt Funds Management last priced a European CLO deal on April 3 when it brought the €513,625,000 Holland Park CLO Ltd. transaction.

The subsidiary of asset manager GSO Capital Partners LP priced three European CLOs in 2013.

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