GSO adds turbo tranche feature to European CLO as part of reset

By Hugh Minch

GSO Capital Partners has issued a novel single B-rated European CLO tranche that is designed to amortise quickly

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TAGS: Europe Refinancing CLO Deutsche Bank GSO Pricing Primary market

View details on CLO-i: Holland Park CLO

Comment by: Hugh Minch. Posted 10 months ago [2019-11-13 14:52:49]

Update: Thanks to the poster below. Pre-crisis turbo tranches and Holland Park's turbo tranche work differently. In GSO's deal, the feature happens when the deal is performing rather than if there is an OC test breach. The article has been updated to make this clear.

Comment by: Anonymous. Posted 10 months ago [2019-11-13 13:58:55]

Great feature but nothing new. This kind of feature was quite common in pre-crisis BBs.