Blackstone/GSO prices €409.4 million; Bain Capital sells first middle-market CLO

By Cristal Cody

Tupelo, Miss., Sept. 19 – Blackstone/GSO Debt Funds Management Europe Ltd. brought €409.4 million of notes to the European primary market in a new CLO offering.

Euro-denominated CLO supply is expected to ramp up over the next month, a market source said.

In other new issuance, Bain Capital Specialty Finance Inc. priced a $450.27 million middle-market CLO in the company’s first deal in the space.

In its deal, Blackstone/GSO Debt Funds Management Europe priced €409.4 million of notes due November 2031 in the Sutton Park CLO DAC transaction, according to a market source.

In the senior secured tranches, the CLO sold €1.4 million of class X floating-rate notes (Aaa//AAA) at Euribor plus 53 basis points, €242 million of class A-1A floating-rate notes (Aaa//AAA) at Euribor plus 90 bps, €4 million of class A-1B floating-rate notes (Aaa//AAA) at Euribor plus 105 bps, €23 million of class A-2A floating-rate notes (Aa2//AA) at Euribor plus 170 bps and €20 million of 2.18% class A-2B fixed-rate notes (Aa2//AA).

Meanwhile, Bain Capital Specialty Finance priced $450.27 million of notes due Sept. 20, 2030 in the company’s first middle-market CLO deal, according to an informed source.

BCC Middle Market CLO 2018-1 LLC sold $215.9 million of class A-1A floating-rate notes at Libor plus 155 bps in the senior tranche.

© 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.