December deal pace picks up; Blackstone/GSO brings €414 million CLO; CreekSource prices

By Cristal Cody

Tupelo, Miss., Dec. 3 – The December CLO deal pace is starting out strongly with two new deals priced in the U.S. and European markets.

Blackstone/GSO Debt Funds Management Europe Ltd. printed €414 million of notes in the Tymon Park CLO Ltd. transaction.

Blackstone/GSO Debt Funds Management Europe sold €414 million of notes due Jan. 22, 2029 in the Tymon Park CLO, a market source said.

The CLO priced €238 million of class A-1A senior secured floating-rate notes at Euribor plus 145 basis points at the top of the capital stack.

BofA Merrill Lynch arranged the deal.

The CLO is backed primarily by secured senior obligations.

Meanwhile, CreekSource LLC brought a $305 million deal, the firm’s second CLO priced this year since it was formed.

CreekSource sold $305 million of notes due Jan. 20, 2028 in a new CLO via J.P. Morgan Securities LLC, according to a market source.

Bean Creek CLO, Ltd./Bean Creek CLO LLC priced $196.5 million of class A floating-rate notes at Libor plus 162 bps in the senior tranche.

The deal is backed primarily by broadly syndicated first-lien senior secured loans.

Proceeds from the offering will be used to purchase a portfolio of about $300 million of mostly senior secured leveraged loans.

CreekSource previously brought the $307 million Clear Creek CLO 2015-1, Ltd. transaction on Feb. 3, 2015.

The firm is an affiliate of Carmel, Ind.-based investment management firm 40|86 Advisors.

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