NYL Investors wraps $511.6 million CLO; GSO/Blackstone markets $512.11 million CLO

By Cristal Cody

Tupelo, Miss., April 4 – New CLO volume year to date totals more than $26 billion and includes a $511.6 million deal that closed on Wednesday.

NYL Investors LLC priced $511.6 million of notes in the transaction.

The new deal pipeline remains active with several issuers marketing CLOs.

GSO/Blackstone Debt Funds Management LLC is offering $512.11 million of CLO notes.

In its deal, NYL Investors sold $511.6 million of notes due April 17, 2031 in the Flatiron CLO 18 Ltd./Flatiron CLO 18 LLC transaction that closed on Wednesday, according to market sources.

Flatiron CLO 18 priced $320 million of class A senior secured floating-rate notes at Libor plus 95 basis points in the senior tranche.

J.P. Morgan Securities LLC arranged the offering.

Meanwhile, GSO/Blackstone Debt Funds Management is offering $512.11 million of notes due April 2031 in the Chenago Park CLO, Ltd./Chenago Park CLO, LLC transaction, according to a market source.

The deal is expected to include $307.5 million of class A-1a floating-rate notes (//AAA); $17.5 million of class A-1b floating-rate notes (//AAA); $46.5 million of class A-2 floating-rate notes; $38.75 million of class B floating-rate notes; $30.5 million of class C floating-rate notes; $18.75 million of class D floating-rate notes; $7.5 million of class E floating-rate notes and $45.11 million of subordinated notes.

BNP Paribas Securities Corp. is the placement agent.

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