GoldenTree Loan offers $453.3 million GoldenTree US CLO 7 notes

By Cristal Cody

Tupelo, Miss., April 24 – GoldenTree Loan Management LP is expected to price $453.3 million of notes due April 20, 2031 in the manager’s first new issue collateralized loan obligation deal of 2020, according to market sources.

The GoldenTree Loan Management US CLO 7 Ltd./GoldenTree Loan Management US CLO 7 Inc. offering includes $267.75 million of class A floating-rate notes (AAA), $69.75 million of class B floating-rate notes (AA), $24.08 million of class C deferrable floating-rate notes (A), $28.8 million of class D deferrable floating-rate notes (BBB-), $14.85 million of class E deferrable floating-rate notes (BB-) and $48.1 million of subordinated notes.

Morgan Stanley & Co. LLC, BofA Securities, Inc. and Wells Fargo Securities LLC are the placement agents.

The CLO has a one-year non-call period and a one-year reinvestment period.

The transaction is backed primarily by broadly syndicated first-lien senior secured loans.

The offering is expected to close in May.

GoldenTree Asset Management has refinanced one vintage CLO year to date.

The CLO manager, part of New York City-based private investment firm GoldenTree Asset Management, LP, priced three new CLOs in 2019.

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