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GSO/Blackstone prices $716.25 million CLO; high-grade CBO/CDO/CLO issues trade
By Cristal Cody
Tupelo, Miss., Dec. 19 – GSO/Blackstone Debt Funds Management LLC closed Wednesday on a new $716.25 million CLO deal.
About $118 billion of new issue CLOs have priced in the U.S. primary market in 2018, according to a BofA Merrill Lynch report.
While pricing action is slowing as the year comes to a close, secondary trading has been active this week.
On Tuesday, $283.3 million of high-grade CBO/CDO/CLO issues and $88.69 million of lower-rated securities traded, according to Trace data.
The investment-grade issues had an average trading price of 98.4, while the non-investment-grade securities had an 80.8 average trading price.
Harbor Park CLO settles
GSO/Blackstone Debt Funds Management priced $716.25 million of notes due Jan. 20, 2031 in the Harbor Park CLO Ltd./Harbor Park CLO LLC offering, according to a market source.
Harbor Park CLO sold $412,125,000 of the class A-1 floating-rate notes at Libor plus 117 bps.
Morgan Stanley & Co. LLC was the placement agent.
The issue is backed primarily by broadly syndicated first-lien senior secured corporate loans.
GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.
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