GoldenTree Asset Management LP and GLM III LP have completed the closing of GLM US CLO 30, a $726 million collateralized loan obligation that will be managed by GLM III.
The CLO is initially backed by a 98 percent ramped $710 million portfolio comprised primarily of senior secured loans and includes a five-year reinvestment period and a two-year non-call period. The syndicate distributed the rated notes globally, while GLM III invested in the CLO’s equity. GLM US CLO 30 represents the 39th CLO issued under GoldenTree’s GLM strategy, bringing total issuance under the platform to nearly $22 billion. Launched in 2017, the GLM strategy was designed to comply with applicable risk retention requirements and continues to align with European Union and/or United Kingdom risk retention regulations. The CLO invests primarily in senior secured leveraged loans, providing diversified exposure across corporate borrowers while supporting active portfolio management throughout the reinvestment period.
The transaction was arranged by a bank syndicate led by BofA Securities as structuring lead, with Morgan Stanley and Wells Fargo Securities serving as co-leads.