Blackstone/GSO taps market with €415 million CLO; NXT attracts first-time CLO investors

By Cristal Cody

Tupelo, Miss., May 14 – Blackstone/GSO Debt Funds Management Europe Ltd. brought its second euro-denominated CLO deal of the year, according to a market source on Thursday.

Blackstone/GSO priced a €415 million offering.

In the U.S. market, NXT Capital, LLC closed on the $408.6 million NXT Capital CLO 2015-1, LLC middle market-backed deal that priced on April 23, according to the company and a market source.

NXT sold six tranches of securities due April 2027 rated AAA through BB and retained the $56.6 million equity interest.

“Seven of the investors purchasing securities in this CLO were first-time investors in NXT Capital’s CLO platform,” NXT said in a release.

Wells Fargo Securities, LLC was the lead manager, and BMO Capital Markets GKST Inc. was co-lead manager.

NXT Capital Investment Advisors, LLC manages the CLO.

The CLO is secured almost exclusively by middle market senior secured loans originated by NXT.

Blackstone/GSO Debt Funds Management Europe priced €415 million of notes due June 7, 2029 in the Orwell Park CLO Ltd. transaction, according to a market source.

The CLO sold €243 million of class A-1 senior secured floating-rate notes at Euribor plus 130 basis points at the top of the capital structure.

BNP Paribas, London Branch arranged the deal.

Blackstone/GSO will manage the CLO.

The CLO is secured primarily by secured senior obligations or senior secured notes.

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