GSO/Blackstone prices $1.03 billion CLO; Octagon prices its second new CLO of year

By Cristal Cody

Tupelo, Miss., March 13 – CLO primary action is picking up in March with a $1 billion-plus deal priced from GSO/Blackstone Debt Funds Management LLC.

GSO/Blackstone Debt Funds Management priced $1,025,000,000 of notes in the transaction.

Also, Octagon Credit Investors, LLC priced $510,675,000 of notes in its second new CLO deal of 2018.

Year to date, more than $21 billion of U.S. dollar-denominated CLOs have priced, according to BofA Merrill Lynch data.

Market sources predict as much as $125 billion of new CLO volume in 2018.

GSO/Blackstone Debt Funds Management priced $1,025,000,000 of notes due April 17, 2031 in the new Cook Park CLO, Ltd./Cook Park CLO, LLC transaction, according to a market source.

The CLO sold $595 million of class A-1 senior secured floating-rate notes at Libor plus 92 basis points in the senior tranche.

Morgan Stanley & Co. LLC was the placement agent.

New York City-based investment management firm GSO/Blackstone is a subsidiary of the Blackstone Group, LP.

Octagon Credit Investors priced $510,675,000 of notes due April 15, 2031 in the new Octagon Investment Partners 36, Ltd./Octagon Investment Partners 36, LLC transaction, according to a market source.

The CLO sold $297.5 million of class A-1 floating-rate notes at Libor plus 97 bps at the top of the capital stack.

Wells Fargo Securities, LLC arranged the offering.

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