Goldman Sachs prices $397M partial refinancing of LCM XIII

Goldman Sachs has priced a $397.14 million partial refinancing of LCM XIII, a 2013-vintage deal that LCM Asset Management LLC has previously repriced twice.

Deal terms extend the non-call period six months through June 23, 2022, at reduced rates on three tranches. The $303.144 million class A-R3 tranche has a new spread of 87 basis points over Libor, reduced from L+114 in effect since a July 2019 refinancing.

Deal terms are as follows:

The deal's reinvestment period ended July 2021 and is not being renewed. Also unchanged is the original July 19, 2027, stated maturity.

In addition to the 2019 refinancing, the deal had been reset in 2016.