Chicago, Jan. 21 – Blackstone Ireland Ltd. sold €406.21 million in a collateralized loan obligation being issued by Dillon's Park CLO DAC, according to multiple press releases and a listing notice.
The notes will mature on Oct. 15, 2034.
The CLO consists of €2 million of class X senior secured floating-rate notes at Euribor plus 50 basis points, €245.1 million of class A senior secured floating-rate notes at Euribor plus 102 bps, €22.9 million of class B-1 senior secured floating-rate notes at Euribor plus 170 bps, €20 million of class B-2 2% senior secured fixed-rate notes, €29 million of class C senior secured deferrable floating-rate notes at Euribor plus 205 bps, €24 million of class D senior secured deferrable floating-rate notes at Euribor plus 300 bps, €20 million of class E senior secured deferrable floating-rate notes at Euribor plus 611 bps, €12 million of class F senior secured deferrable floating-rate notes at Euribor plus 864 bps and €31.206 million of subordinated notes.
Collateral comes from a pool of broadly syndicated speculative-grade senior secured term loans and bonds.
The Dublin-based manager is an affiliate of Blackstone Group LP.
| Issuer: | Dillon's Park CLO DAC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | €406.21 million
|
| Maturity: | Oct. 15, 2034
|
| Structure: | Cash flow CLO
|
| Manager: | Blackstone Ireland Ltd.
|
| Listing date: | Sept. 29
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 50 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A notes
|
| Amount: | €245.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 102 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | €22.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class B-2 notes
|
| Amount: | €20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 2%
|
| Rating: | S&P: AA
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €29 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 205 bps
|
| Rating: | S&P: A
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 300 bps
|
| Rating: | S&P: BBB
|
| Fitch: BBB
|
|
|
| Class E notes
|
| Amount: | €20 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 611 bps
|
| Rating: | S&P: BB-
|
| Fitch: BB
|
|
|
| Class F notes
|
| Amount: | €12 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 864 bps
|
| Rating: | S&P: B-
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €31.206 million
|
| Securities: | Subordinated notes
|
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