By Cristal Cody
Tupelo, Miss., April 16 – GSO/Blackstone Debt Funds Management LLC priced $501.7 million of notes due April 20, 2031 in the Harriman Park CLO Ltd./Harriman Park CLO LLC offering, according to market sources.
The CLO sold $320 million of class A floating-rate notes at Libor plus 120 basis points, $48 million of class B-1 floating-rate notes at Libor plus 175 bps, $12 million of 2.448% class B-2 fixed-rate notes, $30 million of class C deferrable floating-rate notes at Libor plus 250 bps, $30 million of class D deferrable floating-rate notes at Libor plus 364 bps, $20 million of class E deferrable floating-rate notes at Libor plus 691 bps and $41.7 million of subordinated notes.
Citigroup Global Markets Inc. was the placement agent.
GSO/Blackstone will manage the CLO, which has a one-year non-call period and a three-year reinvestment period.
The CLO is backed primarily by broadly syndicated first-lien senior secured corporate loans.
The New York City-based firm is a subsidiary of alternative asset manager GSO Capital Partners LP.
| Issuer: | Harriman Park CLO Ltd./Harriman Park CLO LLC
|
| Amount: | $501.7 million
|
| Maturity: | April 20, 2031
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Static cash flow CLO
|
| Placement agent: | Citigroup Global Markets Inc.
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Call feature: | One year
|
| Settlement date: | April 20
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 120 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $48 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 175 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $12 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.448%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 250 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 364 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $20 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 691 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $41.7 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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