By Cristal Cody
Tupelo, Miss., Aug. 21 – Blackstone/GSO Debt Funds Management Europe Ltd. priced €343.92 million of notes due April 15, 2033 in a new collateralized loan obligation offering, according to market sources on Friday.
Deer Park CLO DAC sold €1.4 million of class X floating-rate notes at Euribor plus 70 basis points, €204.75 million of class A-1 floating-rate notes at Euribor plus 145 bps, €25.1 million of class A-2A floating-rate notes at Euribor plus 200 bps and €11.65 million of 2.5% class A-2B fixed-rate notes.
The CLO also priced €24.15 million of class B floating-rate notes at Euribor plus 300 bps, €21.35 million of class C floating-rate notes at Euribor plus 400 bps, €19.13 million of class D floating-rate notes at Euribor plus 605 bps, €7.93 million of class E floating-rate notes at Euribor plus 810 bps and €28.46 million of subordinated notes.
Deutsche Bank AG was the placement agent.
The CLO has a one-year non-call period and a three-year reinvestment period.
The broadly syndicated CLO is backed primarily by euro-denominated secured senior loans.
Blackstone/GSO has priced three euro-denominated CLOs year to date.
The Dublin-based manager is an affiliate of Blackstone Group LP and GSO Capital Partners LP.
| Issuer: | Deer Park CLO DAC
|
| Amount: | €343.92 million
|
| Maturity: | April 15, 2033
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank AG
|
| Manager: | Blackstone/GSO Debt Funds Management Europe Ltd.
|
| Call feature: | One year
|
| Pricing date: | Aug. 21
|
| Settlement date: | Sept. 17
|
|
|
| Class X notes
|
| Amount: | €1.4 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 70 bps
|
| Ratings: | Kroll: AAA
|
|
|
| Class A-1 notes
|
| Amount: | €204.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 145 bps
|
| Ratings: | Kroll: AAA
|
|
|
| Class A-2A notes
|
| Amount: | €25.1 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 200 bps
|
| Ratings: | Kroll: AA
|
|
|
| Class A-2B notes
|
| Amount: | €11.65 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.5%
|
| Ratings: | Kroll: AA
|
|
|
| Class B notes
|
| Amount: | €24.15 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Ratings: | Kroll: A
|
|
|
| Class C notes
|
| Amount: | €21.35 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 400 bps
|
| Ratings: | Kroll: BBB
|
|
|
| Class D notes
|
| Amount: | €19.13 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 605 bps
|
| Ratings: | Non-rated
|
|
|
| Class E notes
|
| Amount: | €7.93 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Euribor plus 810 bps
|
| Ratings: | Non-rated
|
|
|
| Equity
|
| Amount: | €28.46 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
