Angelo Gordon markets $615.8 million Northwoods Capital XII CLO

By Cristal Cody

Tupelo, Miss., Aug. 4 – Angelo, Gordon & Co., LP intends to offer $615.8 million of collateralized loan obligation notes in the Northwoods Capital XII Ltd./Northwoods Capital XII LLC transaction, according to a market source.

The offering is expected to include $376.2 million of class A floating-rate notes (/AAA/); $69.6 million of class B floating-rate notes (/AA/); $52.2 million of class C deferrable floating-rate notes (/A/); $30 million of class D deferrable floating-rate notes (/BBB/); $28.8 million of class E deferrable floating-rate notes (/BB/) and $59 million of subordinated notes.

Goldman Sachs & Co. is the placement agent.

Angelo, Gordon & Co. will manage the CLO.

The CLO has a reinvestment period that ends Sept. 15, 2018. The non-call period ends Sept. 15, 2016.

The notes are due Sept. 15, 2026.

The CLO is backed primarily by broadly syndicated senior secured corporate loans.

The transaction is expected to close on Sept. 10.

Angelo Gordon’s last CLO offering was the $621.8 million Northwoods Capital XI, Ltd./Northwoods Capital XI, LLC deal brought on March 12.

The New York City-based alternative investment manager priced the $367 million Northwoods Capital X, Ltd./Northwoods Capital X, LLC vehicle in 2013.

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