Morgan Stanley is seeking to raise a $688 million loan fund to be managed by GSO Capital Partners LP, the credit investment arm of Blackstone Group LP (BX), people with knowledge of the deal have told Bloomberg.
The collateralized loan obligation, Central Park CLO, includes a $428 million piece rated AAA by Standard & Poor’s, said one of the people, who declined to be identified because the terms are private. It may price by June 30, the person said.
CLOs are increasing even as prices on the underlying debt tumble to the lowest since January on concern that the U.S. economy is slowing and Greece’s fiscal crisis roils credit markets….
There’s more. Find it at: http://www.bloomberg.com/news/2011-06-20/morgan-stanley-is-said-to-plan-688-million-loan-fund-for-blackstone-s-gso.html
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