GSO/Blackstone preps $649.29 million CLO; PineBridge to bring $400 million Galaxy XXII

By Cristal Cody

Eureka Springs, Ark., June 9 – GSO/Blackstone Debt Funds Management LLC plans to bring its first U.S. CLO offering of 2016 in the Westcott Park CLO, Ltd./Westcott Park CLO LLC transaction, according to a market source on Thursday.

Also, PineBridge Investments LLC intends to price $400 million of notes in a new CLO offering, its first deal since 2015.

In primary action, Cairn Loan Investments LP sold €362.93 million of notes due July 30, 2029 in the Cairn CLO VI BV transaction via Barclays, according to a market source. Final pricing details were not available by press time.

GSO/Blackstone Debt Funds Management plans to price $649.29 million of notes due July 20, 2028 in the Westcott Park CLO transaction, according to a market source.

The Rule 144A-eligible offering includes $413.44 million of class A senior secured floating-rate notes (Aaa//AAA); $70.4 million of class B senior secured floating-rate notes (Aa2); $34.56 million of class C senior secured deferrable floating-rate notes (A2); $38.4 million of class D secured deferrable floating-rate notes (Baa3); $32 million of class E secured deferrable floating-rate notes (Ba3) and $60.49 million of subordinated notes.

Wells Fargo Securities, LLC is the placement agent.

GSO/Blackstone will manage the CLO, which is collateralized primarily by first-lien senior secured loans.

The CLO will have a 2.8-year non-call period and a 4.8-year reinvestment period.

© 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.