GoldenTree Loan Management II, with its affiliated investment manager GoldenTree Asset Management LP, has closed its $487 million collateralized loan obligation to be managed by GLM II.

With the closing of this CLO, GoldenTree Loan Management US CLO 16, GoldenTree has issued 21 CLOs totaling over $12 billion under its GLM CLO strategy. The CLO will initially be backed by a 95 percent ramped $474 million portfolio of primarily senior secured loans as of closing and will have a three-year reinvestment period and a one-year noncall period. It was arranged by a bank syndicate including Wells Fargo Securities, BofA Securities and Morgan Stanley.