GoldenTree Closes $350M CLO, Boosting $17B GLM Strategy 

GoldenTree Asset Management LP has finalized a $350 million collateralized loan obligation (CLO), GoldenTree Loan Management US CLO 25 (GLM US CLO 25), managed by GLM III. This marks the 33rd CLO under GoldenTree’s GLM CLO strategy, bringing the total issued to over $17 billion. 

GLM US CLO 25 is initially supported by a 97% ramped $338 million portfolio, primarily senior secured loans, with a five-year reinvestment period and a two-year non-call period. Arranged by BofA Securities as sole lead, the CLO issued $224 million of AAA-rated senior debt at a coupon of SOFR+1.32%, alongside lower-rated senior, mezzanine, and junior notes, achieving a weighted average coupon of SOFR+1.82%. BofA Securities distributed the investment-grade notes, while GLM III invested in the equity and lower-rated notes. 

Since 2000, GoldenTree has issued over $27 billion in CLOs/CBOs, with $14 billion currently outstanding. The firm, an active structured credit investor since 2007, manages nearly $8 billion in such investments. Founded by Steven Tananbaum, GoldenTree oversees approximately $58 billion for institutional investors, including pensions, endowments, insurance companies, and sovereign wealth funds.