By Cristal Cody
Tupelo, Miss., Oct. 19 – Blackstone/GSO Debt Funds Management Europe Ltd. priced €412.38 million of notes due Jan. 15, 2031 in a new euro collateralization loan obligation, according to a market source.
Willow Park CLO DAC sold €239 million of class A-1 senior secured floating-rate notes at Euribor plus 84 basis points, €40.75 million of class A-2A senior secured floating-rate notes at Euribor plus 135 bps; €12 million of 1.95% class A-2B senior secured fixed-rate notes; €22.75 million of class B senior secured deferrable floating-rate notes at Euribor plus 180 bps; €21.25 million of class C senior secured deferrable floating-rate notes at Euribor plus 275 bps; €25.25 million of class D senior secured deferrable floating-rate notes at Euribor plus 499 bps; €13 million of class E senior secured deferrable floating-rate notes at Euribor plus 660 bps and €38.38 of subordinated notes.
Deutsche Bank AG, London Branch arranged the deal.
Blackstone/GSO will manage the CLO.
Proceeds will be used to purchase a portfolio of mostly euro-denominated leveraged loans and bonds.
The CLO is collateralized primarily by broadly syndicated senior secured obligations.
Blackstone/GSO Debt Funds Management Europe is a Dublin-based subsidiary of asset manager GSO Capital Partners LP.
| Issuer: | Willow Park CLO Ltd.
|
| Amount: | €412.38 million
|
| Maturity: | Jan. 15, 2031
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG, London Branch
|
| Manager: | Blackstone/GSO Debt Funds Management Europe Ltd.
|
| Settlement date: | Nov. 30
|
|
|
| Class A-1 notes
|
| Amount: | €239 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 84 bps
|
| Ratings: | Moody’s: Aaa
|
| Fitch: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €40.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 135 bps
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class A-2B notes
|
| Amount: | €12 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.95%
|
| Ratings: | Moody’s: Aa2
|
| Fitch: AA
|
|
|
| Class B notes
|
| Amount: | €22.75 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Ratings: | Moody’s: A2
|
| Fitch: A
|
|
|
| Class C notes
|
| Amount: | €21.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 275 bps
|
| Ratings: | Moody’s: Baa2
|
| Fitch: BBB
|
|
|
| Class D notes
|
| Amount: | €25.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 499 bps
|
| Ratings: | Moody’s: Ba2
|
| Fitch: BB
|
|
|
| Class E notes
|
| Amount: | €13 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 660 bps
|
| Ratings: | Moody’s: B2
|
| Fitch: B
|
|
|
| Equity
|
| Amount: | €38.38 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
