By Cristal Cody
Tupelo, Miss., July 31 – Blackstone/GSO Debt Funds Management Europe Ltd. priced €409.8 million of notes due Oct. 22, 2032 in a new euro-denominated collateralized loan obligation transaction on Tuesday, according to market sources.
Dunedin Park CLO DAC priced €2 million of class X floating-rate notes at Euribor plus 47 basis points, €248 million of class A-1 senior secured floating-rate notes at Euribor plus 112 bps, €25.5 million of class A-2A senior secured floating-rate notes at Euribor plus 180 bps and €14.5 million of 2.5% class A-2B fixed-rate notes.
The CLO also sold €20 million of class B-1 senior secured deferrable floating-rate notes at Euribor plus 255 bps; €8 million of 2.55% class B-2 fixed-rate notes; €23.45 million of class C senior secured deferrable floating-rate notes at Euribor plus 390 bps; €20.55 million of class D senior secured deferrable floating-rate notes at Euribor plus 624 bps and €47.8 million of subordinated notes.
Deutsche Bank AG, London Branch was the placement agent.
The CLO is managed by Blackstone/GSO Debt Funds Management Europe.
The deal is backed primarily by euro-denominated secured senior obligations.
Blackstone/GSO is a Dublin-based manager and affiliate of Blackstone Group LP.
| Issuer: | Dunedin Park CLO DAC
|
| Amount: | €409.8 million
|
| Maturity: | Oct. 22, 2032
|
| 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.
|
| Pricing date: | July 30
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 47 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | €248 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 112 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €25.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 180 bps
|
| Rating: | Fitch: AA
|
|
|
| Class A-2B notes
|
| Amount: | €14.5 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.5%
|
| Rating: | Fitch: AA
|
|
|
| Class B-1 notes
|
| Amount: | €20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 255 bps
|
| Rating: | Fitch: A
|
|
|
| Class B-2 notes
|
| Amount: | €8 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.1%
|
| Rating: | Fitch: A
|
|
|
| Class C notes
|
| Amount: | €23.45 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 390 bps
|
| Rating: | Fitch: BBB
|
|
|
| Class D notes
|
| Amount: | €20.55 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 624 bps
|
| Rating: | Fitch: BB
|
|
|
| Equity
|
| Amount: | €47.8 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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