By Cristal Cody
Tupelo, Miss., Aug. 21 – Blackstone/GSO Debt Funds Management Europe Ltd. priced €343.92 million of notes due April 15, 2033 in a new collateralized loan obligation offering, according to market sources on Friday.
Deer Park CLO DAC sold €1.4 million of class X floating-rate notes at Euribor plus 70 basis points, €204.75 million of class A-1 floating-rate notes at Euribor plus 145 bps, €25.1 million of class A-2A floating-rate notes at Euribor plus 200 bps and €11.65 million of 2.5% class A-2B fixed-rate notes.
The CLO also priced €24.15 million of class B floating-rate notes at Euribor plus 300 bps, €21.35 million of class C floating-rate notes at Euribor plus 400 bps, €19.13 million of class D floating-rate notes at Euribor plus 605 bps, €7.93 million of class E floating-rate notes at Euribor plus 810 bps and €28.46 million of subordinated notes.
Deutsche Bank AG was the placement agent.
The CLO has a one-year non-call period and a three-year reinvestment period.
The broadly syndicated CLO is backed primarily by euro-denominated secured senior loans.
Blackstone/GSO has priced three euro-denominated CLOs year to date.
The Dublin-based manager is an affiliate of Blackstone Group LP and GSO Capital Partners LP.
Issuer: | Deer Park CLO DAC
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Amount: | €343.92 million
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Maturity: | April 15, 2033
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Securities: | Fixed-rate, floating-rate and subordinated notes
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Structure: | Cash flow CLO
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Placement agent: | Deutsche Bank AG
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Manager: | Blackstone/GSO Debt Funds Management Europe Ltd.
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Call feature: | One year
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Pricing date: | Aug. 21
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Settlement date: | Sept. 17
|
|
Class X notes
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Amount: | €1.4 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 70 bps
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Ratings: | Kroll: AAA
|
|
Class A-1 notes
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Amount: | €204.75 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 145 bps
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Ratings: | Kroll: AAA
|
|
Class A-2A notes
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Amount: | €25.1 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 200 bps
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Ratings: | Kroll: AA
|
|
Class A-2B notes
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Amount: | €11.65 million
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Securities: | Fixed-rate notes
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Coupon: | 2.5%
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Ratings: | Kroll: AA
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Class B notes
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Amount: | €24.15 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 300 bps
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Ratings: | Kroll: A
|
|
Class C notes
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Amount: | €21.35 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 400 bps
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Ratings: | Kroll: BBB
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Class D notes
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Amount: | €19.13 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 605 bps
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Ratings: | Non-rated
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Class E notes
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Amount: | €7.93 million
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Securities: | Floating-rate notes
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Coupon: | Euribor plus 810 bps
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Ratings: | Non-rated
|
|
Equity
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Amount: | €28.46 million
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Securities: | Subordinated notes
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Ratings: | Non-rated
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