GSO/Blackstone to price $506.65 million Webster Park CLO

By Cristal Cody

Tupelo, Miss., Dec. 10 – GSO/Blackstone Debt Funds Management LLC is in the collateralized loan obligation deal pipeline with $506.65 million of notes due Jan. 20, 2027, according to a market source.

The Webster Park CLO Ltd./Webster Park CLO LLC offering includes $300.8 million of class A-1 floating-rate notes (/AAA); $59.2 million of class A-2 floating-rate notes; $41.3 million of class B deferrable floating-rate notes; $28.8 million of class C deferrable floating-rate notes; $30 million of class D deferrable floating-rate notes and $46.55 million of subordinated notes.

Citigroup Global Markets Inc. will arrange the transaction.

GSO/Blackstone will manage the CLO.

The CLO has a non-call period that ends on Jan. 20, 2018. The reinvestment period ends on Oct. 20, 2020.

The deal is backed primarily by broadly syndicated first-lien senior secured corporate loans.

GSO/Blackstone has priced five U.S. CLOs and refinanced one vintage CLO year to date.

The New York City-based subsidiary of alternative asset manager GSO Capital Partners LP brought five U.S. CLO transactions to market in 2014.

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