By Cristal Cody
Tupelo, Miss., Nov. 22 – GoldenTree Loan Management LP priced $553.55 million of notes due Jan. 20, 2033 in a new collateralized loan obligation deal this week, according to market sources.
GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 Inc. sold $3.7 million of class X senior secured floating-rate notes at Libor plus 60 basis points, $352 million of class A senior secured floating-rate notes at Libor plus 134 bps, $52.25 million of class B-1 senior secured floating-rate notes at Libor plus 190 bps and $13.75 million of 3.38% class B-2 senior secured fixed-rate notes.
The CLO also priced $33 million of class C deferrable floating-rate notes at Libor plus 260 bps, $30.25 million of class D deferrable floating-rate notes at Libor plus 385 bps, $26 million of class E junior deferrable floating-rate notes at Libor plus 522 bps, $9.75 million of class F junior deferrable floating-rate notes at Libor plus 755 bps and $33.85 million of subordinated notes.
Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc. were the placement agents.
GoldenTree Loan Management, part of GoldenTree Asset Management, LP, is the CLO manager.
The CLO has a two-year non-call period and a five-year reinvestment period.
The transaction is backed primarily by broadly syndicated first-lien senior secured loans.
GoldenTree Asset Management has priced three new CLOs year to date.
The private investment firm is based in New York City.
| Issuer: | GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 Inc.
|
| Amount: | $553.55 million
|
| Maturity: | Jan. 20, 2033
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agents: | Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and BofA Securities, Inc.
|
| Manager: | GoldenTree Loan Management LP
|
| Call feature: | Two years
|
| Pricing date: | Nov. 19
|
| Settlement date: | Dec. 19
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Class X notes
|
| Amount: | $3.7 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 60 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $352 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 134 bps
|
| Ratings: | Moody’s: Aaa
|
| S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $52.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 190 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $13.75 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 3.38%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $33 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 260 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $30.25 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $26 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | Libor plus 522 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $9.75 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | Libor plus 755 bps
|
| Rating: | S&P: B-
|
|
|
| Equity
|
| Amount: | $32.85 million
|
| Securities: | Subordinated notes
|
| Ratings: | Non-rated
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
