Chicago, Feb. 16 – GoldenTree Loan Management LP refinanced and extended the $552.6 million collateralized loan obligation issued by GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 LLC, according to a pre-sale report.
The notes will mature on April 20, 2035.
The refinanced CLO consists of $2.75 million of class X-R senior secured floating-rate notes at SOFR plus 60 basis points, $352 million of class A-R senior secured floating-rate notes at SOFR plus 132 bps, $66 million of class B-R senior secured floating-rate notes at SOFR plus 180 bps, $33 million of class C-R deferrable floating-rate notes at SOFR plus 210 bps, $33 million of class D-R senior secured floating-rate notes at SOFR plus 310 bps, $22 million of class E-R deferrable floating-rate notes at SOFR plus 670 bps, $11 million of class F-R junior deferrable floating-rate notes at SOFR plus 844 bps and $32.85 million of subordinated notes.
The original CLO had $3.7 million of class X senior secured floating-rate notes at Libor plus 60 bps, $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.
GoldenTree Loan Management LP will manage the collateral through the end of the reinvestment period on April 20, 2027. Collateral for the notes comes from a portfolio of broadly syndicated speculative-grade senior secured term loans.
The notes can be called starting Feb. 24, 2024.
Wells Fargo Securities LLC was the placement agent.
The private investment firm is based in New York City.
| Issuer: | GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 LLC
|
| Issue: | Floating-rate notes and subordinated notes
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| Amount: | $552.6 million
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| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities LLC
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| Manager: | GoldenTree Loan Management LP
|
| Call feature: | Feb. 24, 2024
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| Settlement date: | Feb. 24
|
|
|
| Class X-R notes
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| Amount: | $2.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 60 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
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| Amount: | $352 million
|
| Securities: | Senior secured floating-rate notes
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| Coupon: | SOFR plus 132 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
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| Amount: | $66 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
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| Amount: | $33 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | SOFR plus 210 bps
|
| Rating: | S&P: A+
|
|
|
| Class D-R notes
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| Amount: | $33 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E-R notes
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| Amount: | $22 million
|
| Securities: | Deferrable floating-rate notes
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| Coupon: | SOFR plus 670 bps
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| Rating: | S&P: BB-
|
|
|
| Class F-R notes
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| Amount: | $11 million
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| Securities: | Junior deferrable floating-rate notes
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| Coupon: | SOFR plus 844 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
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| Amount: | $32.85 million
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| Securities: | Subordinated notes
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