Goldman Sachs prices $516M reset of Bain Capital Credit CLO 2019-3

Goldman Sachs has priced the $516 million reset of Bain Capital Credit CLO 2019-3, according to market sources.

Deal terms are as follows:

The primary triple-A coupon is L+116, inside of the original-issue AAA spread of L+134, according to LCD data.

The deal structure includes a two-year non-call and a five-year reinvestment period. The weighted average life test is approximately nine years, through Oct. 21, 2030.

The vehicle remains compliant with European risk-retention regulations.

The reset action represents the 12th CLO that Bain Capital has refinanced or reset this year, including a middle-market CLO last month.