Chicago, Aug. 27 – GoldenTree Loan Management II LP sold $639.83 million in a collateralized loan obligation being issued by GoldenTree Loan Management U.S. CLO 10 Ltd./GoldenTree Loan Management U.S. CLO 10 LLC, according to a pre-sale report.
The notes will mature on July 20, 2034.
The CLO consists of $3.84 million of class X senior secured floating-rate notes at Libor plus 75 basis points, $385.92 million of class A senior secured floating-rate notes at Libor plus 110 bps, $100.48 million of class B senior secured floating-rate notes at Libor plus 160 bps, $38.4 million of class C senior secured deferrable floating-rate notes at Libor plus 195 bps, $38.4 million of class D senior secured deferrable floating-rate notes at Libor plus 305 bps, $24.96 million of class E senior secured deferrable floating-rate notes at Libor plus 620 bps, $10.88 million of class F senior secured deferrable floating-rate notes at Libor plus 779 bps and $36.95 million of subordinated notes.
GoldenTree Loan Management II LP will manage the collateral through the end of the reinvestment period on July 20, 2026.
The notes can be called starting July 20, 2023.
Wells Fargo Securities LLC, Morgan Stanley & Co. LLC, and BofA Securities Inc. were the placement agents.
The CLO manager is part of New York City-based private investment firm GoldenTree Asset Management, LP.
| Issuers: | GoldenTree Loan Management U.S. CLO 10 Ltd./GoldenTree Loan Management U.S. CLO 10 LLC
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $639.83 million
|
| Maturity: | July 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agents: | Wells Fargo Securities LLC, Morgan Stanley & Co. LLC, and BofA Securities Inc.
|
| Manager: | GoldenTree Loan Management II LP
|
| Call feature: | July 20, 2023
|
| Settlement date: | Aug. 2
|
|
|
| Class X notes
|
| Amount: | $3.84 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 75 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A notes
|
| Amount: | $385.92 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 110 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $100.48 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 160 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $38.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 195 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $38.4 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 305 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $24.96 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 620 bps
|
| Rating: | S&P: BB-
|
|
|
| Class F notes
|
| Amount: | $10.88 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 779 bps
|
| Rating: | S&P: B-
|
|
|
| Subordinated notes
|
| Amount: | $36.95 million
|
| Securities: | Subordinated notes
|
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