Blackstone/GSO to sell €409.4 million notes in new Sutton Park CLO

By Cristal Cody

Tupelo, Miss., Sept. 7 – Blackstone/GSO Debt Funds Management Europe Ltd. plans to price €409.4 million of notes due November 2031 in the Sutton Park CLO DAC transaction, according to a market source.

The deal includes €1.4 million of class X senior secured floating-rate notes (Aaa//AAA), €242 million of class A-1A senior secured floating-rate notes (Aaa//AAA), €4 million of class A-1B floating-rate notes (Aaa//AAA), €23 million of class A-2A floating-rate notes (Aa2//AA) and €20 million of class A-2B fixed-rate notes (Aa2//AA).

The CLO also plans to price €25 million of class B senior secured deferrable floating-rate notes (A2//A), €24 million of class C senior secured deferrable floating-rate notes (Baa3//BBB-), €22 million of class D senior secured deferrable floating-rate notes (Ba3//BB), €12 million of class E senior secured deferrable floating-rate notes (B2//B-) and €36 million of subordinated notes.

BNP Paribas, London Branch is the placement agent.

The CLO has a two-year non-call period and a 4.5-year reinvestment period.

The deal is backed primarily by euro-denominated senior secured loans.

The offering is expected to settle Oct. 31.

Dublin-based Blackstone/GSO Debt Funds Management Europe is a subsidiary of asset manager GSO Capital Partners LP.

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