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M Stanley Plans $688M CLO For GSO Capital

Morgan Stanley is planning to launch a loan fund worth $688 million.

Morgan Stanley is planning to launch a loan fund worth $688 million, Bloomberg reports. The credit portfolio will be managed by GSO Capital Partners, the credit investment arm of Blackstone Group. The firm is expecting to launch the fund by June 30, 2011.

The collateralized loan obligation, Central Park CLO, includes a $428 million piece rated AAA, a $91 million slice rated AA, a $38 million portion graded A, a $36 million segment rated BBB and a $33 million piece rated BB. It also includes $7 million of Class F debt and $54.95 million of subordinated notes.

Click here for the story from Bloomberg.

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