Goldman Sachs prices $609M partial refinancing of Ares XL CLO

Goldman Sachs has priced a $609 million partial refinancing of Ares XL CLO, a previously reset deal that is being extended with a new nine-month non-call period.

Terms for the deal, managed by Ares CLO Management LLC, include a triple-A spread of L+87 for the $424.9 million class A1-RR notes.

Deal details are as follows:

Ares XL CLO was reset in 2018 and was in its reinvestment period until October. The 4.4-year remaining weighted average life test is unchanged, as is the original stated maturity of Jan. 15, 2029.

The transaction marks the 11th deal that Ares has reset or refinanced this year.