GoldenTree wraps upsized $503.3 million CLO offering; Canyon CLO Advisors prices

By Cristal Cody

Tupelo, Miss., May 11 – In CLO primary action, GoldenTree Loan Management LP closed on an upsized $503.3 million CLO offering in its first new issue offering of the year.

Since the pandemic’s impact in March, new CLOs are pricing with short non-call and reinvestment periods.

GoldenTree’s CLO has a one-year non-call period and a one-year reinvestment period.

In the manager’s last new offering issued on Dec. 19, the GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 Inc. deal had a two-year non-call period and a five-year reinvestment period.

Canyon CLO Advisors LLC also closed on a new $436.5 million CLO offering with a one-year non-call period and a short six-month reinvestment period.

In its deal, GoldenTree Loan Management closed on a new $503.3 million CLO offering, upsized from $453.3 million, according to market sources and a news release.

GoldenTree Loan Management US CLO 7 Ltd./GoldenTree Loan Management US CLO 7 Inc. sold $297.5 million of class A floating-rate notes (AAA) at Libor plus 190 bps in the senior tranche.

Morgan Stanley & Co. LLC was the structuring lead placement agent. BofA Securities, Inc. and Wells Fargo Securities LLC were the co-lead placement agents.

The notes are due April 20, 2031.

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