Chicago, June 22 – GLM II, LP sold $493.4 million in a collateralized loan obligation being issued by GoldenTree Loan Management US CLO 17, Ltd., according to a presale report and a press release.
The notes will mature on July 20, 2036.
The CLO consists of $2.5 million of class X senior secured floating-rate notes at SOFR plus 125 basis points, $320 million of class A senior secured floating-rate notes at SOFR plus 175 bps, $60 million of class B senior secured floating-rate notes at SOFR plus 245 bps, $28.8 million of class C mezzanine deferrable floating-rate notes at SOFR plus 295 bps, $30 million of class D mezzanine deferrable floating-rate notes at SOFR plus 500 bps, $18.8 million of class E junior deferrable floating-rate notes at SOFR plus 650 bps, $6.3 million of class F junior deferrable floating-rate notes at SOFR plus 850 bps and $27 million of subordinated notes.
GLM II, LP will manage the collateral through the end of the reinvestment period on July 20, 2028.
Collateral for the notes consists of first-lien senior secured leveraged loans.
The notes can be called starting June 23, 2025.
BofA Securities, Inc. was the placement agent.
GoldenTree is a global asset management firm based in New York.
| Issuer: | GoldenTree Loan Management US CLO 17, Ltd.
|
| Issue: | Floating-rate notes and subordinated notes
|
| Amount: | $493.4 million
|
| Maturity: | July 20, 2036
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities, Inc.
|
| Manager: | GLM II, LP
|
| Call feature: | June 23, 2025
|
| Settlement date: | June 22
|
|
|
| Class X notes
|
| Amount: | $2.5 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 125 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class A notes
|
| Amount: | $320 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 175 bps
|
| Rating: | Moody's: Aaa
|
|
|
| Class B notes
|
| Amount: | $60 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 245 bps
|
| Rating: | Fitch: AA
|
|
|
| Class C notes
|
| Amount: | $28.8 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 295 bps
|
| Rating: | Fitch: A
|
|
|
| Class D notes
|
| Amount: | $30 million
|
| Securities: | Mezzanine deferrable floating-rate notes
|
| Coupon: | SOFR plus 500 bps
|
| Rating: | Fitch: BBB-
|
|
|
| Class E notes
|
| Amount: | $18.8 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | SOFR plus 650 bps
|
| Rating: | Fitch: BB-
|
|
|
| Class F notes
|
| Amount: | $6.3 million
|
| Securities: | Junior deferrable floating-rate notes
|
| Coupon: | SOFR plus 850 bps
|
| Rating: | Fitch: B-
|
|
|
| Subordinated notes
|
| Amount: | $27 million
|
| Securities: | Subordinated notes
|
|
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