By Cristal Cody
Tupelo, Miss., Dec. 19 – GSO/Blackstone Debt Funds Management LLC priced $716.25 million of notes due Jan. 20, 2031 in a new collateralized loan obligation offering that closed on Wednesday, according to a market source.
Harbor Park CLO Ltd./Harbor Park CLO LLC sold $1.75 million of class X floating-rate notes at Libor plus 90 basis points; $412,125,000 of class A-1 floating-rate notes at Libor plus 117 bps; $42,875,000 of class A-2 floating-rate notes at Libor plus 140 bps; $48.8 million of class B-1 floating-rate notes at Libor plus 170 bps; $25 million of 4.79% class B-2 fixed-rate notes; $39.2 million of class C floating-rate notes at Libor plus 210 bps; $43.75 million of class D floating-rate notes at Libor plus 290 bps; $24.5 million of class E floating-rate notes at Libor plus 560 bps and $79.25 million of subordinated notes.
Morgan Stanley & Co. LLC was 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.
GSO/Blackstone is a New York City-based subsidiary of alternative asset manager GSO Capital Partners LP.
| Issuer: | Harbor Park CLO Ltd./Harbor Park CLO LLC
|
| Amount: | $716.25 million
|
| Maturity: | Jan. 20, 2031
|
| Securities: | Fixed-rate, floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | GSO/Blackstone Debt Funds Management LLC
|
| Call feature: | Two years
|
| Pricing date: | Nov. 15
|
| Settlement date: | Dec. 19
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Class X notes
|
| Amount: | $1.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 90 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-1 notes
|
| Amount: | $412,125,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 117 bps
|
| Ratings: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $42,875,000
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 140 bps
|
| Ratings: | S&P: Non-rated
|
| Fitch: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $47.8 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 170 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $25 million
|
| Securities: | Fixed-rate notes
|
| Coupon: | 4.79%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $39.2 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 210 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $43.75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24.5 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 560 bps
|
| Rating: | S&P: BB-
|
|
|
| Equity
|
| Amount: | $79.25 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
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