GSO/Blackstone markets $660.84 million Stewart Park CLO

By Cristal Cody

Tupelo, Miss., April 15 – GSO/Blackstone Debt Funds Management LLC plans to price $660.84 million of notes due 2026 in a collateralized loan obligation transaction, according to a market source.

The Stewart Park CLO Ltd./Stewart Park CLO LLC offering includes $393.25 million of class A senior secured floating-rate notes (Aaa/AAA/); $80.7 million of class B senior secured floating-rate notes (Aa1); $56.88 million of class C secured deferrable floating-rate notes (A2); $35.75 million of class D secured deferrable floating-rate notes (Baa3); $33 million of class E secured deferrable floating-rate notes (Ba3) and $61.26 million of subordinated notes.

Wells Fargo Securities LLC is the placement agent.

GSO/Blackstone will manage the CLO, which has a two-year non-call period and a four-year reinvestment period.

The CLO is collateralized primarily by broadly syndicated senior secured loans.

GSO/Blackstone has brought two CLO deals year to date.

The New York City-based subsidiary of alternative asset manager GSO Capital Partners LP priced five U.S. CLO transactions in 2014.

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