Chicago, April 4 – Blackstone Ireland Ltd. sold €442.9 million in a collateralized loan obligation being issued by Otranto Park CLO DAC, according to a new issue report and a press release.
The notes will mature on May 15, 2035.
The CLO consists of €272.8 million of class A senior secured floating-rate notes at Euribor plus 96 basis points, €44 million of class B senior secured floating-rate notes at Euribor plus 215 bps, €26.4 million of class C senior secured deferrable floating-rate notes at Euribor plus 315 bps, €29.7 million of class D senior secured deferrable floating-rate notes at Euribor plus 415 bps, €22 million of class E senior secured deferrable floating-rate notes at Euribor plus 705 bps, €12.1 million of class F senior secured deferrable floating-rate notes at Euribor plus 905 bps and €35.9 million of subordinated notes.
Blackstone Ireland Ltd. will manage the collateral through the end of the reinvestment period on 4.6-year.
Collateral for the notes consists of senior secured obligations including loans and high-yield bonds.
BofA Securities was the placement agent.
The Dublin-based CLO manager is part of the Blackstone Group Inc.
| Issuer: | Otranto Park CLO DAC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | €442.9 million
|
| Maturity: | May 15, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities
|
| Manager: | Blackstone Ireland Ltd.
|
| Settlement date: | March 31
|
|
|
| Class A notes
|
| Amount: | €272.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 96 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | €44 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Rating: | Moody's: Aa2
|
| Fitch: AA
|
|
|
| Class C notes
|
| Amount: | €26.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 315 bps
|
| Rating: | Moody's: A2
|
| Fitch: A
|
|
|
| Class D notes
|
| Amount: | €29.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 415 bps
|
| Rating: | Moody's: Baa3
|
| Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | €22 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 705 bps
|
| Rating: | Moody's: Ba3
|
| Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | €12.1 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Euribor plus 905 bps
|
| Rating: | Moody's: B3
|
| Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | €35.9 million
|
| Securities: | Subordinated notes
|
|
|
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