Chicago, April 8 – GoldenTree Asset Management LP repriced two classes of notes for €258.8 million from the Laurelin 2016-1 DAC collateralized loan obligation transaction, according to a notice.
The notes mature Oct. 20, 2031.
The refinancing notes are the €238.8 million of class A-R senior secured floating-rate notes at Euribor plus 72 basis points and €20 million of class B-2-R 1.8% senior secured fixed-rate notes.
The notes were originally issued in 2016 and refinanced in late 2018.
Collateral for the notes primarily comes from senior secured loans or senior secured bonds.
GoldenTree will continue to manage the portfolio. The reinvestment period ends in April 2023.
The refinancing date was pushed back from March 22 to April 20 via extraordinary resolution.
The private investment firm is based in New York City.
| Issuer: | Laurelin 2016-1 DAC
|
| Issue: | Floating-rate and fixed-rate notes
|
| Structure: | Cash flow CLO
|
| Amount: | €258.8 million
|
| Maturity: | Oct. 20, 2031
|
| Manager: | GoldenTree Asset Management LP
|
| Settlement date: | April 20
|
| Announcement date: | April 7
|
|
|
| Class A-R notes
|
| Amount: | €238.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Euribor plus 72 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B-2-R notes
|
| Amount: | €20 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 1.8%
|
| Rating: | Moody's: Aa2
|
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