GSO/Blackstone sell $810.4 million CLO; Alcentra prints €409.2 million; NIBC offers CLO

By Cristal Cody

Tupelo, Miss., Nov. 19 – GSO/Blackstone Debt Funds Management LLC priced a new $810.4 million broadly syndicated CLO offering.

In the European primary market, Alcentra Ltd. sold €409.2 million of notes in a new deal.

In addition, NIBC Bank NV is offering €410 million of notes in a new euro-denominated CLO.

Year to date, more than $100 billion of dollar-denominated CLOs and about €28 billion of euro-denominated CLOs have priced, according to market sources.

Beechwood Park prices

GSO/Blackstone Debt Funds Management priced $810.4 million of notes due Jan. 17, 2033 in the new CLO offering, according to a market source.

Beechwood Park CLO Ltd./Beechwood Park CLO LLC sold $512 million of the class A floating-rate notes at Libor plus 133 basis points.

Goldman Sachs & Co. LLC was the placement agent.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.

Jubilee prints

Alcentra priced €409.2 million of notes due June 15, 2032 in its CLO transaction, according to market sources.

Jubilee CLO 2019-XXIII BV sold €248 million of class A floating-rate notes at Euribor plus 90 bps in the AAA-rated tranche.

Morgan Stanley & Co. International plc was the placement agent.

The deal is backed primarily by senior secured term loans.

Alcentra is a London-based global asset management firm and indirect subsidiary of BNY Alcentra Group Holding, Inc.

NIBC plans CLO

In other euro supply, NIBC Bank plans to price €410 million of notes due 2032, according to a market source.

The North Westerly CLO VI BV deal includes €250 million of class A floating-rate notes (AAA); €25 million of class B-1 floating-rate notes (AA); €15 million of class B-2 fixed-rate notes (AA); €28 million of class C floating-rate notes (A); €20 million of class D floating-rate notes (BBB); €24 million of class E floating-rate notes (BB); €10 million of class F floating-rate notes (B-) and €38 million of subordinated notes.

MUFG is the placement agent.

The transaction is expected to close on Jan. 8.

The CLO is collateralized primarily by broadly syndicated senior secured loans and bonds.

NIBC Bank is based in the Hague, the Netherlands.

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