Chicago, Dec. 20 – GoldenTree Loan Management II LP sold $651.3 million in a collateralized loan obligation being issued by GoldenTree Loan Management US CLO 11 Ltd./GoldenTree Loan Management US CLO 11 LLC, according to a pre-sale report.
The notes will mature on Oct. 20, 2034.
The CLO consists of $3.9 million of class X senior secured floating-rate notes at Libor plus 80 basis points, $403 million of class A senior secured floating-rate notes at Libor plus 113 bps, $91 million of class B senior secured floating-rate notes at Libor plus 160 bps, $39 million of class C senior secured deferrable floating-rate notes at Libor plus 195 bps, $39 million of class D senior secured deferrable floating-rate notes at Libor plus 300 bps, $16.25 million of class E senior secured deferrable floating-rate notes at Libor plus 535 bps, $8.125 million of class E-J senior secured deferrable floating-rate notes at Libor plus 775 bps, $12.03 million of class F senior secured deferrable floating-rate notes at Libor plus 750 bps and $39 million of subordinated notes..
GoldenTree Loan Management II LP will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
The underlying collateral is broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Oct. 20, 2023.
Credit Suisse Securities (USA) LLC was the placement agent.
The CLO manager is part of New York City-based private investment firm GoldenTree Asset Management, LP.
| Issuer: | GoldenTree Loan Management US CLO 11 Ltd./GoldenTree Loan Management US CLO 11 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $651.3 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Credit Suisse Securities (USA) LLC
|
| Manager: | GoldenTree Loan Management II LP
|
| Call feature: | Oct. 20, 2023
|
| Settlement date: | Dec. 8
|
|
|
| Class X notes
|
| Amount: | $3.9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 80 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $403 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 113 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $91 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $39 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $39 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 300 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $16.25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 535 bps
|
| Rating: | S&P: BB+
|
|
|
| Class E-J notes
|
| Amount: | $8.125 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 775 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $12.025 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 750 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $39 million
|
| Securities: | Subordinated notes
|
© 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.
