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Since its inception in January 2017, the GLM strategy was intended to be compliant with applicable Risk Retention regulations. While a US Court of Appeals ruling on February 9, 2018 led to the repeal of US risk retention rules for open market CLOs, GLM CLOs are intended to continue to comply with European Union and United Kingdom Risk Retention regulations.

GLM US CLO 16 will initially be backed by a 95% ramped $474 million portfolio of primarily senior secured loans as of closing and will have a three-year reinvestment period and a one-year non call period. 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 rated notes issued by the CLO, while GLM II invested in the CLO's equity and lower rated notes.

GLM US CLO 16 issued $325 million of AAA rated senior notes with a weighted average coupon of S+2.33%, along with lower rated senior, mezzanine and junior notes, for an overall weighted average coupon of S+2.96%. Since its inception in 2000, GoldenTree has issued over $21 billion of CLOs/CBOs, with over $14 billion currently outstanding.

GoldenTree's investment team is comprised of approximately 90 individuals covering around 20 industries and having, on average, 14 years of experience. In addition, GoldenTree has been an active investor in structured credit since 2007 and currently manages over $5 billion of structured products investments across the firm.