By Cristal Cody
Tupelo, Miss., Dec. 19 – Blackstone/GSO Debt Funds Management LLC priced a $504,595,000 collateralized loan obligation offering in December, according to market sources.
Allegany Park CLO Ltd./Allegany Park CLO LLC sold $320 million of class A floating-rate notes at Libor plus 133 basis points, $32.5 million of class B-1 floating-rate notes at Libor plus 180 bps, $27.5 million of 3.494% class B-2 fixed-rate notes.
The CLO also priced $30 million of class C floating-rate notes at Libor plus 255 bps, $30 million of class D floating-rate notes at Libor plus 370 bps, $19 million of class E floating-rate notes at Libor plus 677.5 bps and $45,595,000 of subordinated notes.
Wells Fargo Securities LLC was the placement agent.
Blackstone/GSO CLO Management LLC will manage the CLO.
The notes are due Jan. 20, 2033.
The CLO has a two-year non-call period and a five-year reinvestment period.
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.
| Issuer: | Allegany Park CLO Ltd./Allegany Park CLO LLC
|
| Amount: | $504,595,000
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Maturity: | Jan. 20, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
|
| Manager: | Blackstone/GSO CLO Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Dec. 11
|
| Settlement date: | Jan. 15
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 133 bps
|
| Rating: | Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $32.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Ratings: | Non-rated
|
|
|
| Class B-2 notes
|
| Amount: | $27.5 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 3.494%
|
| Ratings: | Non-rated
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 255 bps
|
| Ratings: | Non-rated
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 370 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | $19 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 677.5 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | $45,595,000
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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