Chicago, Nov. 10 – GoldenTree Loan Management II, LP sold €388.8 million in a collateralized loan obligation being issued by GoldenTree Loan Management EUR CLO 4 DAC, according to a term sheet and a notice.
The notes will mature on July 20, 2034.
The CLO consists of €2 million of class X senior secured floating-rate notes at Euribor plus 45 basis points, €182.5 million of class A senior secured floating-rate notes at Euribor plus 102 bps, €50 million of class A senior secured floating-rate loans at Euribor plus 102 bps, €34 million of class B senior secured floating-rate notes at Euribor plus 170 bps, €24.2 million of class C senior secured deferrable floating-rate notes at Euribor plus 215 bps, €26.5 million of class D senior secured deferrable floating-rate notes at Euribor plus 315 bps, €21.5 million of class E senior secured deferrable floating-rate notes at Euribor plus 607 bps, €10.3 million of class F senior secured deferrable floating-rate notes at Euribor plus 858 bps and €37.8 million of subordinated notes.
Originally, the CLO sold €221 million of class A floating-rate notes at Euribor plus 155 bps, €26.5 million of class B-1 floating-rate notes at Euribor plus 230 bps and €10 million of 2.6% class B-2 fixed-rate notes.
The CLO also priced €25 million of class C floating-rate notes at Euribor plus 280 bps, €25 million of class D floating-rate notes at Euribor plus 410 bps, €18.7 million of class E floating-rate notes at Euribor plus 550 bps, €9.7 million of class F floating-rate notes at Euribor plus 675 bps and €37.8 million of subordinated notes.
GoldenTree Loan Management II, LP will manage the collateral through the end of the reinvestment period on Jan. 20, 2026.
The notes can be called starting July 20, 2023.
Morgan Stanley & Co. International plc was the placement agent.
The private investment firm is based in New York City.
| Issuer: | GoldenTree Loan Management EUR CLO 4 DAC
|
| Issue: | Floating-rate notes, floating-rate loans and subordinated notes
|
| Amount: | €388.8 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. International plc
|
| Manager: | GoldenTree Loan Management II, LP
|
| Call feature: | July 20, 2023
|
| Settlement date: | July 19
|
|
|
| Class X notes
|
| Amount: | €2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 45 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A notes
|
| Amount: | €182.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 102 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class A loans
|
| Amount: | €50 million
|
| Securities: | Senior secured floating-rate loans
|
| Coupon: | Euribor plus 102 bps
|
| Price: | Par
|
| Rating: | Moody's: Aaa
|
| S&P: AAA
|
|
|
| Class B notes
|
| Amount: | €34 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 170 bps
|
| Price: | Par
|
| Rating: | Moody's: Aa2
|
| S&P: AA
|
|
|
| Class C notes
|
| Amount: | €24.2 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 215 bps
|
| Price: | Par
|
| Rating: | Moody's: A2
|
| S&P: A
|
|
|
| Class D notes
|
| Amount: | €26.5 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 315 bps
|
| Price: | Par
|
| Rating: | Moody's: Baa3
|
| S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | €21.5 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 607 bps
|
| Price: | 98
|
| Rating: | Moody's: Ba3
|
| S&P: BB-
|
|
|
| Class F notes
|
| Amount: | €10.3 million
|
| Securities: | Senior secured Deferrable floating-rate notes
|
| Coupon: | Euribor plus 858 bps
|
| Price: | 96.5
|
| Rating: | Moody's: B3
|
| S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | €37.8 million
|
| Securities: | Subordinated notes
|
| Price: | Par
|
© 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.
