By Cristal Cody
Tupelo, Miss., March 17 – GSO/Blackstone Debt Funds Management LLC priced a $616.8 million collateralized loan obligation transaction, according to a market source.
Treman Park CLO Ltd./Treman Park CLO LLC sold $390 million of class A floating-rate notes at Libor plus 150 basis points; $63.6 million of class B floating-rate notes at Libor plus 220 bps; $30.6 million of class C floating-rate notes at Libor plus 315 bps; $38.4 million of class D floating-rate notes at Libor plus 386 bps; $31.8 million of class E floating-rate notes at Libor plus 620 bps and $62.4 million of subordinated notes.
Goldman Sachs & Co. was the placement agent.
GSO/Blackstone will manage the CLO.
GSO/Blackstone previously was in the market in February with the $509.44 million Dorchester Park CLO Ltd./Dorchester Park CLO LLC deal.
The New York City-based subsidiary of alternative asset manager GSO Capital Partners LP priced five U.S. CLO transactions in 2014.
| Issuer: | Treman Park CLO Ltd./Treman Park CLO LLC
|
| Amount: | $616.8 million
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Goldman Sachs & Co.
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Pricing date: | March 5
|
|
|
| Class A notes
|
| Amount: | $390 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 150 bps
|
| Price: | Par
|
| Ratings: | Moody’s: Aaa expected
|
| Fitch: AAA expected
|
|
|
| Class B notes
|
| Amount: | $63.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 220 bps
|
| Price: | Par
|
| Rating: | Moody’s: Aa2 expected
|
|
|
| Class C notes
|
| Amount: | $30.6 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 315 bps
|
| Price: | Par
|
| Rating: | Moody’s: A2 expected
|
|
|
| Class D notes
|
| Amount: | $38.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 386 bps
|
| Price: | 97.75
|
| Rating: | Moody’s: Baa3 expected
|
|
|
| Class E notes
|
| Amount: | $31.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 620 bps
|
| Price: | 97.2425
|
| Rating: | Moody’s: Ba3 expected
|
|
|
| Equity
|
| Amount: | $62.4 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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