GSO/Blackstone to sell $716.25 million notes in new Harbor Park CLO

By Cristal Cody

Tupelo, Miss., Nov. 8 – GSO/Blackstone Debt Funds Management LLC intends to price $716.25 million of notes due Jan. 20, 2031 in a new collateralized loan obligation offering, according to a market source.

The Harbor Park CLO Ltd./Harbor Park CLO LLC deal includes $1.75 million of class X floating-rate notes (//AAA); $412,125,000 of class A-1 floating-rate notes (//AAA); $42,875,000 of class A-2 floating-rate notes (//AAA); $42 million of class B-1 floating-rate notes; $30.8 million of class B-2 floating-rate notes; $39.2 million of class C floating-rate notes; $43.75 million of class D floating-rate notes; $24.5 million of class E floating-rate notes and $79.25 million of subordinated notes.

Morgan Stanley & Co. LLC is the placement agent.

GSO/Blackstone will manage the CLO.

The CLO has a two-year non-call period and five-year reinvestment period.

The issue is backed primarily by broadly syndicated first-lien senior secured corporate loans.

The Rule 144A and Regulation S deal is expected to close on Dec. 19.

GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.

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