Novel call feature gives GSO CLO tight triple A print

By Sayed Kadiri

Thursday, February 14, 2013

GSO Capital has today priced a landmark $727 million CLO by uniquely structuring the triple A notes

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Comment by: Anonymous. Posted 11 years ago [2013-02-15 01:38:29]

I don't get the A-1 thing. The A-1 investors seem to give up 12 bps (ie, they take L+105 rather than L+117) for two years at a minimum. In return, they get a make-whole for this 12 bps difference for just one year IF the deal is called at year two? That doesn't make sense - so I must be missing it.

CLOs

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