Golden Tree Closes $753M CLO Under GLM Strategy

GLM III, LP and its affiliated investment manager GoldenTree Asset Management have closed GoldenTree Loan Management US CLO 27 (GLM US CLO 27), a $753 million collateralized loan obligation that will be managed by GLM III. With this issuance, GoldenTree has now closed 36 CLOs totaling nearly $20 billion under its GLM CLO strategy. 

GLM US CLO 27 is supported by a 98% ramped, $736 million portfolio of primarily senior secured loans at closing. The vehicle features a five-year reinvestment period and two-year non-call period, providing flexibility to manage risk and capture market opportunities over time. 

The transaction was structured by Wells Fargo Securities as lead arranger, with BofA Securities and Morgan Stanley serving as co-leads. The arranging banks distributed the new issue’s investment-grade and BB-rated tranches to a diversified global investor base. GLM III retained alignment through investments in both the equity and B-rated notes. 

The CLO issued $480 million in senior AAA-rated notes priced at SOFR + 1.19%, along with junior AAA and mezzanine tranches, resulting in an overall weighted average coupon of SOFR + 1.61%. 

Since launching its CLO platform in 2000, GoldenTree has issued more than $29 billion of CLOs/CBOs, with approximately $15 billion currently outstanding. The firm has also been an active participant in structured credit markets since 2007 and today manages over $8 billion in structured-credit investments across its global platform.