Chicago, Feb. 8 – GoldenTree Loan Management II LP sold $693.64 million of notes in a collateralized loan obligation transaction due Jan. 20, 2033 issued by GoldenTree Loan Management US CLO 9 Ltd./GoldenTree Loan Management US CLO 9 LLC, according to a market source.
The CLO consists of $4.2 million of class X floating-rate notes at Libor plus 50 basis points, $455 million of class A floating-rate notes at Libor plus 107 bps and $84 million of class B floating-rate notes at Libor plus 150 bps.
The transaction also includes $45.5 million of class C deferrable floating-rate notes at Libor plus 180 bps, $40.6 million of class D deferrable floating-rate notes at Libor plus 290 bps, $21.35 million of class E deferrable floating-rate notes at Libor plus 475 bps, $6.3 million of class F deferrable floating-rate notes at Libor plus 675 bps and $40.89 million of subordinated notes.
GoldenTree Loan Management will manage the CLO until the reinvestment period ends on April 20, 2024.
The notes cannot be called until April 20, 2022.
The CLO is being arranged by Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and BofA Securities Inc.
The is GoldenTree’s ninth CLO, bringing assets under management to $9.5 billion.
This CLO is collateralized primarily by senior secured loans, cash and eligible investments with at least 80% of borrowers required to be based in the United States.
The CLO manager is part of New York City-based private investment firm GoldenTree Asset Management, LP.
| Issuers: | GoldenTree Loan Management US CLO 9 Ltd./GoldenTree Loan Management US CLO 9 LLC
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| Amount: | $693.64 million
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| Maturity: | Jan. 20, 2033
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| Securities: | Fixed-rate and subordinated notes
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| Structure: | Cash flow CLO
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| Placement agents: | Wells Fargo Securities LLC, Morgan Stanley & Co. LLC and BofA Securities Inc.
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| Manager: | GoldenTree Loan Management II LP
|
| Call: | April 20, 2022
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| Pricing date: | Feb. 4
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| Settlement date: | March 5
|
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|
| Class X notes
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| Amount: | $4.2 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 50 bps
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| Rating: | S&P: AAA
|
|
|
| Class A notes
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| Amount: | $455 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 107 bps
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| Rating: | S&P: AAA
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|
|
| Class B notes
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| Amount: | $84 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 150 bps
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| Rating: | S&P: AA
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|
|
| Class C notes
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| Amount: | $45.5 million
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| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
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| Amount: | $40.6 million
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| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 290 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E deferrable notes
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| Amount: | $21.35 million
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| Securities: | Floating-rate notes
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| Coupon: | Libor plus 475 bps
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| Rating: | S&P: BB-
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|
|
| Class F notes
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| Amount: | $6.3 million
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| Securities: | Deferrable floating-rate notes
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| Coupon: | Libor plus 675 bps
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| Rating: | S&P: B-
|
|
|
| Subordinated notes
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| Amount: | $40.89 million
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| Securities: | Subordinated notes
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