Chicago, Nov. 22 – GoldenTree Loan Management II, LP priced $390.2 million in a collateralized loan obligation being issued by GoldenTree Loan Management US CLO 16, Ltd., according to a presale report and a press release.
The notes will mature in January 2035.
The CLO consists of $4 million of class X senior secured floating-rate notes at SOFR plus 180 basis points, $248 million of class A senior secured floating-rate notes at SOFR plus 230 bps, $12 million of class A-J senior secured floating-rate notes at SOFR plus 275 bps, $42 million of class B senior secured floating-rate notes at SOFR plus 300 bps, $22 million of class C mezzanine deferrable floating-rate notes at SOFR plus 395 bps, $24 million of class D mezzanine deferrable floating-rate notes at SOFR plus 546 bps, $14 million of class E junior deferrable floating-rate notes at SOFR plus 700 bps, $9 million of class F junior deferrable floating-rate notes at SOFR plus 825 bps and $15.2 million of subordinated notes.
GoldenTree Loan Management II, LP will manage the collateral through the end of the reinvestment period in January 2026.
Collateral for the notes consists of non-investment-grade syndicated loans and other assets.
The notes can be called starting in December 2023.
Wells Fargo Securities, LLC was the placement agent.
GoldenTree is a global asset management firm based in New York.
| Issuer: | GoldenTree Loan Management US CLO 16, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $390.2 million
|
| Maturity: | January 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Wells Fargo Securities, LLC
|
| Manager: | GoldenTree Loan Management II, LP
|
| Call feature: | December 2023
|
| Settlement date: | Dec. 22
|
|
|
| Class X notes
|
| Amount: | $4 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 180 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | $248 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | Moody's: Aaa
|
| Fitch: AAA
|
|
|
| Class A-J notes
|
| Amount: | $12 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 275 bps
|
| Rating: | Moody's:
|
| Fitch: AAA
|
|
|
| Class B notes
|
| Amount: | $42 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 300 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $22 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 395 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 546 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $14 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | SOFR plus 700 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $9 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | SOFR plus 825 bps
|
| Rating: | Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | $15.2 million
|
| Securities: | Subordinated notes
|
|
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