Blackstone/GSO prices €409.8 million CLO; PineBridge refinances notes; Ares reprices

By Cristal Cody

Tupelo, Miss., July 31 – Blackstone/GSO Debt Funds Management Europe Ltd. priced a €409.8 million euro-denominated CLO offering on Tuesday in the manager’s third new deal of the year.

In other pricing action in the European market, PineBridge Investments Europe Ltd. sold €371.2 million of notes in a refinancing of a vintage 2016 CLO.

Also in the refinancing market, Ares CLO Management LLC repriced $390 million of the AAA-rated notes from a vintage 2016 dollar-denominated CLO.

In its deal, Blackstone/GSO Debt Funds Management Europe priced €409.8 million of notes due Oct. 22, 2032 in the new transaction, according to market sources.

Dunedin Park CLO DAC priced €248 million of class A-1 senior secured floating-rate notes at Euribor plus 112 basis points at the top of the capital structure.

Deutsche Bank AG, London Branch was the placement agent.

The deal is backed primarily by euro-denominated secured senior obligations.

Blackstone/GSO is a Dublin-based manager and affiliate of Blackstone Group LP.

Separately, PineBridge Investments Europe priced €371.2 million of notes due Nov. 10, 2030 in the CLO refinancing, according to a market source and a notice to noteholders.

Euro-Galaxy V CLO BV sold €184 million of the class A-R senior secured floating-rate notes at par to yield Euribor plus 88 bps.

Merrill Lynch International was the refinancing placement agent.

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