Chicago, Dec. 5 – Blackstone Ireland Ltd. sold €391.6 million of notes in a collateralized loan obligation being issued by Edmondstown Park CLO DAC, according to a presale report.
The notes will mature on July 21, 2035.
The CLO consists of €160 million of class A floating-rate notes at Euribor plus 218 basis points, €80 million of class A floating-rate loans at Euribor plus 218 bps, €40 million of class B floating-rate notes at Euribor plus 363 bps, €23 million of class C floating-rate notes at Euribor plus 417 bps, €27 million of class D floating-rate notes at Euribor plus 619 bps, €17.5 million of class E floating-rate notes at Euribor plus 677 bps, €13 million of class F floating-rate notes at Euribor plus 1000 bps and €31.1 million of subordinated notes.
Blackstone Ireland Ltd. will manage the collateral through the end of the reinvestment period on July 21, 2027.
Collateral for the notes consists of syndicated speculative-grade senior secured term loans.
The notes can be called starting June 15, 2024.
BNP Paribas was the placement agent.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Edmondstown Park CLO DAC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | €391.6 million
|
| Maturity: | July 21, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BNP Paribas
|
| Manager: | Blackstone Ireland Ltd.
|
| Call feature: | June 15, 2024
|
| Settlement date: | Dec. 15
|
|
|
| Class A notes
|
| Amount: | €160 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 218 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €80 million
|
| Securities: | Floating-rate loans
|
| Coupon: | Euribor plus 218 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €40 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 363 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | €23 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 417 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | €27 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 619 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €17.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 677 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €13 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 1000 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €31.1 million
|
| Securities: | Subordinated notes
|
|
|
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