GoldenTree: $500M CLO Deal Completed
- GoldenTree Asset Management, along with its affiliate GLM III, LP, has finalized a $500 million collateralized loan obligation (CLO).
- The GLM US CLO 24 is backed by a $499 million portfolio of primarily senior secured loans.
- The collateralized loan obligation issued $320 million in AAA-rated senior notes at a coupon of SOFR+1.15%.Lower-rated senior, mezzanine, and junior notes were also issued, resulting in a weighted...
GoldenTree Asset Management closes a $500 million collateralized loan obligation (CLO),GLM US CLO 24,furthering its established GLM strategy. this deal, the 32nd CLO issuance under GoldenTree’s approach, underscores the firm’s prowess in the structured credit market.J.P. Morgan served as the sole lead structurer, managing the global distribution. The CLO, backed by a portfolio of senior secured loans, features a five-year reinvestment period and a two-year non-call period.News Directory 3 is following GoldenTree’s continued success in this area.GoldenTree has issued over $26 billion in CLOs/CBOs and manages approximately $58 billion in assets. Discover what’s next in GoldenTree’s strategic plays.
GoldenTree Closes $500M CLO Under GLM Strategy
Updated May 27, 2025
GoldenTree Asset Management, along with its affiliate GLM III, LP, has finalized a $500 million collateralized loan obligation (CLO). The deal, dubbed GLM US CLO 24, will be managed by GLM III. This marks the 32nd CLO issued under GoldenTree’s GLM CLO strategy, bringing the total issuance to more than $17 billion.
The GLM US CLO 24 is backed by a $499 million portfolio of primarily senior secured loans. It features a five-year reinvestment period and a two-year non-call period.J.P. Morgan acted as the sole lead structurer and placement agent, handling the global distribution of the CLO’s rated notes. GLM III invested in the CLO’s equity tranche.
The collateralized loan obligation issued $320 million in AAA-rated senior notes at a coupon of SOFR+1.15%.Lower-rated senior, mezzanine, and junior notes were also issued, resulting in a weighted average coupon of SOFR+1.55%.
Founded in 2000 by Steven Tananbaum, GoldenTree has issued over $26 billion in CLOs/CBOs, with $14 billion currently outstanding.The firm has managed nearly $8 billion in structured credit investments as 2007 and oversees approximately $58 billion in assets for institutional clients, including public and corporate pensions, endowments, foundations, insurers, and sovereign wealth funds. this solidifies its position as a leading independent global credit asset manager.
what’s next
GoldenTree is expected to continue its GLM CLO strategy with further issuances, leveraging its expertise in structured credit investments and its strong relationships with institutional clients.