GSO/Blackstone, Benefit Street price new CLOs; Monroe Capital brings middle-market deal

By Cristal Cody

Tupelo, Miss., Sept. 28 – GSO/Blackstone Debt Funds Management LLC priced more than $1.02 billion of notes in a new CLO deal.

Also in the primary market, Benefit Street Partners LLC priced a $712.9 million CLO.

In the middle-market space, Monroe Capital Management LLC sold $405 million of notes in a new offering.

More than $70 billion of new broadly syndicated CLOs and about $10 billion of middle-market CLOs have priced year to date, sources report.

BofA Merrill Lynch expects broadly syndicated CLO supply to top $100 billion for the year.

GSO/Blackstone taps market

GSO/Blackstone Debt Funds Management priced $1,022,000,000 of notes due Oct. 15, 2030 in the Gilbert Park CLO, Ltd./Gilbert Park CLO, LLC transaction, according to a market source.

The CLO sold $650 million of senior secured floating-rate notes at Libor plus 119 basis points in the class A tranche.

Morgan Stanley & Co. LLC was the placement agent.

The CLO manager priced five new U.S. CLOs and refinanced one vintage CLO in 2016.

The New York City-based firm is a subsidiary of alternative asset manager GSO Capital Partners LP.

Benefit Street XII prints

Benefit Street Partners priced $712.9 million of notes due Oct. 15, 2030 in a new CLO deal, according to a market source.

Benefit Street Partners CLO XII, Ltd./Benefit Street Partners CLO XII LLC sold $451.5 million of class A-1 senior secured floating-rate notes at Libor plus 125 bps at the top of the capital stack.

BofA Merrill Lynch was the placement agent.

Benefit Street Partners has priced two new CLOs and refinanced four vintage CLOs year to date.

The CLO manager priced one new CLO and refinanced one vintage CLO transaction in 2016.

The credit investment arm of Providence Equity Partners LLC is based in New York City.

MML CLO 2017-1 prices

Monroe Capital Management priced $405 million of notes due April 22, 2029 in the Monroe Capital MML CLO 2017-1, Ltd./Monroe Capital MML CLO 2017-1, LLC middle-market transaction, according to a source.

The CLO sold $224 million of class A floating-rate notes at Libor plus 160 bps in the AAA-rated tranche.

BNP Paribas Securities Corp. arranged the offering.

Monroe Capital has priced one new CLO and refinanced one vintage CLO year to date.

The Chicago-based firm provides senior and junior debt and equity co-investments to middle-market companies in the United States and Canada.

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