GSO/Blackstone brings fifth new CLO of year; Kramer Van Kirk prices; PineBridge refinances

By Cristal Cody

Eureka Springs, Ark., Dec. 23 – Details emerged on two new CLO deals priced in December and one euro-denominated refinanced transaction.

GSO/Blackstone Debt Funds Management LLC priced $510.45 million of notes in its fifth new transaction of the year.

Kramer Van Kirk Credit Strategies LP returned to the primary market for the first time this year with a $355.5 million CLO.

In the European space, PineBridge Investments Europe Ltd. refinanced €411.1 million of notes in a vintage 2013 CLO.

Year to date, more than $89 billion of CLOs have been priced or refinanced, according to Prospect News data.

CLO managers have priced and refinanced more than €18 billion of CLOs in 2016.

In its deal, GSO/Blackstone Debt Funds Management priced $510.45 million of notes due Jan. 20, 2029 in the Taconic Park CLO Ltd./Taconic Park CLO LLC transaction, according to a market source.

The CLO cold $325 million of class A-1 senior secured floating-rate notes at Libor plus 142 basis points at the top of the capital structure.

Citigroup Global Markets Inc. was the placement agent.

Separately, Kramer Van Kirk Credit Strategies sold $355.5 million of notes due Jan. 15, 2029 in the firm’s first CLO deal of 2016, a market source said.

KVK CLO 2016-1 Ltd. priced $218.75 million of class A floating-rate notes at Libor plus 154 bps in the AAA-rated tranche.

Goldman Sachs & Co. arranged the deal.

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