By Cristal Cody
Tupelo, Miss., Oct. 16 – Blackstone/GSO Secured Lending Fund priced an upsized $500 million offering of 3.625% senior notes due Jan. 15, 2026 (Baa3//BBB-) on Friday at a spread of 350 basis points over Treasuries, according to a market source.
Initial price talk was in the 370 bps spread area.
The deal was upsized from $300 million.
Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc. were the bookrunners.
The company held fixed income investor calls along with a virtual roadshow on Tuesday and Wednesday for the Rule 144A and Regulation S offering.
Blackstone/GSO Secured Lending Fund is a New York-based business development company that originates senior secured floating-rate loans to private U.S. small and middle market companies.
The firm is externally managed by GSO Asset Management LLC, a subsidiary of GSO Capital Partners LP.
| Issuer: | Blackstone/GSO Secured Lending Fund
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| Amount: | $500 million
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| Maturity: | Jan. 15, 2026
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| Description: | Senior notes
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| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and SMBC Nikko Securities America, Inc.
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| Coupon: | 3.625%
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| Spread: | Treasuries plus 350 bps
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| Trade date: | Oct. 16
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Fixed income investor calls, virtual roadshow
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| Price guidance: | Treasuries plus 370 bps area
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