GoldenTree Loan Opportunities IX to redeem four note series Oct. 31

By Angela McDaniels

Tacoma, Wash., Oct. 28 – GoldenTree Loan Opportunities IX, Ltd. and GoldenTree Loan Opportunities IX, LLC will redeem four series of notes on Oct. 31, according to a notice to noteholders from trustee Bank of New York Mellon Trust Co. NA.

The holders of a majority of the subordinated notes directed the issuers to redeem the class A notes, the class B-1 notes, the class B-2 notes and the class C notes in whole.

The redemption price for each series of notes is 100% of the outstanding amount plus accrued interest to the redemption date.

The redemption price will total $411,918,108.88 for the class A notes, $40,040,772.35 for the class B-1 notes, $39,417,300 for the class B-2 notes and $30,798,765.29 for the class C notes.

The issuers are funding the redemption with proceeds from $518.8 million of notes due 2026 that priced Oct. 7.

As previously reported, the issuers priced $409.5 million of class A-R senior secured floating-rate notes at Libor plus 137 basis points, $39.8 million of class B-1R senior secured floating-rate notes at Libor plus 190 bps, $39 million of 3.27% class B-2R senior secured fixed-rate notes and $30.5 million of class C deferrable floating-rate notes at Libor plus 250 bps.

New York -based private investment firm GoldenTree Asset Management LP is the CLO manager.

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