GoldenTree sells $449 million GoldenTree Loan Management US CLO 19

By Marisa Wong

Los Angeles, Feb. 26 – GLM III, LP, as manager, closed a $449 million collateralized loan obligation, GoldenTree Loan Management US CLO 19, Ltd., according to a press release.

GLM US CLO 19 will initially be backed by a 96% ramped $434 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.

GLM US CLO 19 issued $288 million of AAA rated senior notes with a coupon of SOFR plus 150 basis points, along with lower-rated senior, mezzanine and junior notes, for an overall weighted average coupon of SOFR plus 199 bps.

The CLO was arranged by a bank syndicate including Wells Fargo Securities as structuring lead and BofA Securities and Morgan Stanley as co-leads. The syndicate globally distributed the investment-grade notes issued by the CLO, while GLM III invested in the CLO’s equity as well as B- rated notes.

GoldenTree is a global asset management firm based in New York.

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