Vesey Park CLO DAC: 02 May 2020

A securitisation of mainly senior secured obligations (at least 90%) with an added component of senior unsecured, mezzanine, second-lien loans and high-yield bonds. The portfolio is actively managed by Blackstone/GSO Debt Funds Management Europe Limited.

Eligibility criteria/limits (include): a minimum of 70% in secured senior loans; a maximum of 2.5% in unhedged collateral obligations; a maximum of 2.5% in distressed exchanged obligations; a maximum of 5% in bridge loans; a maximum of 30% in cov-lite loans; a maximum of 5% on PIK securities; a maximum of 10% of obligors domiciled in countries with a Fitch Country Ceiling below ‘AAA’.

The CLO has a 4.5-year reinvestment period which ends in November 2024, and is non-callable until 16 May 2022.