York CLO prices $447.13 million CLO; GSO/Blackstone brings $408 million notes

By Cristal Cody

Tupelo, Miss., Nov. 18 – York CLO Managed Holdings, LLC priced $447.13 million of notes in the manager’s first new broadly syndicated CLO of 2020.

Meanwhile, GSO/Blackstone Debt Funds Management LLC tapped the primary market with $408 million of notes in its fifth new CLO offering of the year.

In other activity, Hayfin Emerald Management LLP closed Wednesday on its €345.6 million Hayfin Emerald CLO V DAC offering. The CLO priced the €208.3 million of class A senior secured floating-rate notes at Euribor plus 110 basis points.

Octagon Credit Investors, LLC also closed Wednesday on its $405.2 million Octagon Investment Partners 50, Ltd./Octagon Investment Partners 50, LLC deal.

Octagon 50 sold $156 million of class A-1 notes at Libor plus 130 bps at the top of the capital structure.

Deal volume has been steady as the year closes with about $70 billion of dollar-denominated broadly syndicated CLOs and more than $13 billion of euro-denominated CLOs priced year to date, according to market sources.

York CLO 8 prints

York CLO Managed Holdings priced $447,125,000 of notes due April 20, 2032 in the manager’s first new broadly syndicated CLO of 2020, according to market sources.

York CLO-8 Ltd./York CLO-8 LLC sold $258 million of the class A-1 floating-rate notes at Libor plus 150 bps.

Goldman Sachs & Co. LLC was the placement agent.

The notes are backed primarily by senior secured loans.

York CLO has priced one new CLO and refinanced one vintage CLO year to date.

The New York City-based firm is a subsidiary of York Capital Management Global Advisors, LLC.

GSO/Blackstone brings CLO

GSO/Blackstone Debt Funds Management priced $408 million of notes due Oct. 15, 2032 in the Reese Park CLO Ltd./Reese Park CLO LLC offering, according to market sources.

The CLO sold $244 million of the class A floating-rate notes at Libor plus 132 bps.

Goldman Sachs was the placement agent.

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.

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