GLM III, LP and its affiliated investment manager GoldenTree Asset Management LP, announced the closing of a $350 million collateralized loan obligation (“CLO”) to be managed by GLM III. With the closing of this CLO, GoldenTree Loan Management US CLO 25, GoldenTree has issued 33 CLOs totaling over $17 billion under its GLM CLO strategy.

GLM US CLO 25 will initially be backed by a 97% ramped $338 million portfolio of primarily senior secured loans as of closing and will have a five-year reinvestment period and a two-year non call period. The CLO was arranged by BofA Securities as sole lead. The arranger distributed the investment grade rated notes issued by the CLO, while GLM III invested in the CLO’s equity and lower rated notes.

Since its inception in 2000, GoldenTree has issued over $27 billion of CLOs/CBOs, with over $14 billion currently outstanding. GoldenTree’s investment team is comprised of nearly 100 individuals covering over 30 industries and having on average 16 years of experience. In addition, GoldenTree has been an active investor in structured credit since 2007 and currently manages nearly $8 billion of structured credit investments across the firm.

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