GoldenTree prices $553.55 million CLO; Sculptor to refinance 2016 notes; outflows rise

By Cristal Cody

Tupelo, Miss., Nov. 22 – GoldenTree Loan Management LP priced a $553.55 million CLO deal this week in the manager’s third broadly syndicated CLO offering of the year.

In other activity, Sculptor Loan Management LP, formerly known as Och-Ziff Loan Management LP, intends to sell $304 million of notes in a partial refinancing of a vintage 2016 CLO deal.

More than $100 billion of new broadly syndicated CLOs have priced this year, while about $40 billion of vintage CLOs have been refinanced year to date, according to market sources.

Meanwhile, for the past week ended Wednesday, leveraged loan funds saw a jump in outflows to $447 million from $88 million of outflows in the previous week and $366 million of redemptions in the week ending Nov. 6, Fitch Ratings said in a report on Friday.

Year to date, net flows stand at approximately $27 billion of outflows.

In its deal, GoldenTree Loan Management priced $553.55 million of notes due Jan. 20, 2033 in the new CLO deal, according to market sources.

GoldenTree Loan Management US CLO 6 Ltd./GoldenTree Loan Management US CLO 6 Inc. sold $352 million of class A senior secured floating-rate notes at Libor plus 134 basis points at the top of the capital structure.

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