Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for GoldenTree Asset Management LP > News item |
GoldenTree refinances CLO second time; refinancing volume in line with forecasts
By Cristal Cody
Tupelo, Miss., Oct. 31 – GoldenTree Asset Management LP came to the primary market to price $615.8 million of notes in a second refinancing of a vintage 2014 CLO deal that closed this week.
More than $130 billion of vintage CLOs have been refinanced year to date.
About $160 billion to $170 billion of total refinanced CLO volume is expected by market sources for the year.
Meanwhile, securitized secondary trading volume has increased during the week. On Tuesday, $204.85 million of high-grade CBO/CDO/CLO issues and $186.67 million of lower-rated securities traded, according to Trace data.
In its deal, GoldenTree Asset Management priced $615.8 million of notes due Oct. 29, 2029 in a second refinancing of the GoldenTree Loan Opportunities IX Ltd./GoldenTree Loan Opportunities IX, LLC deal, according to a market source and a notice of executed second supplemental indenture on Tuesday.
GoldenTree Loan Opportunities IX priced $402.25 million of class A-R-2 senior secured floating-rate notes at Libor plus 111 basis points at the top of the capital structure.
Citigroup Global Markets Inc. arranged the deal.
GoldenTree originally sold $667.75 million of the CLO notes on Oct. 3, 2014. The CLO originally priced $409.5 million of class A notes at Libor plus 151 bps.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.