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
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