Chicago, Sept. 13 – GoldenTree Loan Management II GP LLC refinanced and extended for $515.65 million the collateralized loan obligation issued by GoldenTree Loan Management U.S. CLO 8 Ltd./GoldenTree Loan Management U.S. CLO 8 LLC, according to a pre-sale report.
The refinanced notes will mature on Oct. 20, 2034.
The CLO now consists of $3.2 million of class X-R senior secured floating-rate notes at Libor plus 70 basis points, $330 million of class A-R senior secured floating-rate notes at Libor plus 115 bps, $68.1 million of class B-R senior secured floating-rate notes at Libor plus 160 bps, $31.4 million of class C-R senior secured deferrable floating-rate notes at Libor plus 200 bps, $31.4 million of class D-R senior secured deferrable floating-rate notes at Libor plus 310 bps, $19.7 million of class E-R senior secured deferrable floating-rate notes at Libor plus 615 bps, $10.5 million of class F-R senior secured deferrable floating-rate notes at Libor plus 805 bps and $21.35 million of subordinated notes.
GoldenTree Loan Management II GP LLC. will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
The notes can be called starting Oct. 20, 2023.
Morgan Stanley & Co. 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 U.S. CLO 8 Ltd./GoldenTree Loan Management U.S. CLO 8 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $515.65 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Morgan Stanley & Co. LLC
|
| Manager: | GoldenTree Loan Management II GP LLC
|
| Call feature: | Oct. 20, 2023
|
| Settlement date: | Sept. 3
|
|
|
| Class X-R notes
|
| Amount: | $3.2 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 70 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-R notes
|
| Amount: | $330 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 115 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $68.1 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $31.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $31.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 310 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $19.7 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 615 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F-R notes
|
| Amount: | $10.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 805 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $21.35 million
|
| Securities: | Subordinated notes
|
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