MidOcean Credit Fund Management prices $402.7 million CLO; GoldenTree refinances 2015 CLO

By Cristal Cody

Eureka Springs, Ark., Nov. 17 – In new CLO issuance, MidOcean Credit Fund Management LP priced $402.7 million of notes in the firm’s second new deal in 2016.

Meanwhile, refinancing activity continues to remain strong ahead of the Dec. 24 date when risk retention regulations take effect.

GoldenTree Asset Management LP refinanced $425.5 million of notes in a CLO offering the firm priced in 2015.

MidOcean prices CLO

MidOcean Credit Fund Management priced a $402.7 million CLO transaction via Jefferies LLC, according to a market source.

MidOcean Credit CLO VI/MidOcean Credit CLO VI LLC sold $242 million of class A floating-rate notes at Libor plus 158 basis points in the AAA-rated tranche.

MidOcean Credit Fund Management will manage the CLO.

The affiliate of New York City-based private equity firm MidOcean Partners has priced two CLOs year to date and brought one CLO transaction to market in 2015.

GoldenTree refinances

GoldenTree Asset Management refinanced $425.5 million of notes in four tranches due April 19, 2027 in a vintage CLO deal, according to a market source.

GoldenTree Loan Opportunities XI Ltd./GoldenTree Loan Opportunities XI, LLC priced $237 million of class A-1-R senior secured floating-rate notes at Libor plus 138 bps at the top of the capital stack.

Goldman Sachs & Co. arranged the refinancing.

The CLO originally priced $553.05 million of notes in the offering on Feb. 27, 2015.

The transaction is backed primarily by broadly syndicated first-lien senior secured loans.

GoldenTree Asset Management has refinanced two vintage CLOs and priced one U.S. CLO deal and one euro-denominated CLO offering year to date.

The New York City-based private investment firm placed two U.S. CLO deals in 2015.

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