Avondale Park CLO: 11 June 2020
This is a securitisation of mainly senior secured obligations (min 90%), with a max of 10% of senior unsecured, mezzanine, second-lien loans and high-yield bonds. The portfolio will be managed by Blackstone/GSO Debt Funds Management Europe Limited.
Portfolio limits (include): secured senior loans – min 70%; bridge loans – max 5%; current pay obligations – max 5%; non-euro obligations – max 20%; cov-lite loans – max 30%; PIK securities – max 5%.
The portfolio's reinvestment period will end approximately four-and-a-half years after closing.