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GoldenTree Loan Management EUR CLO 2: 22 December 2018

The assets securing the notes will consist of a portfolio of primarily Senior Loans, Senior Secured Bonds, Mezzanine Obligations and High Yield Bonds, and will be managed by , via an agreement with GTAM.

The Investment Manager was established in 2016. The Investment Manager's principal place of business is New York, New York. The Investment Manager is a newly-formed entity and the Issuer will be the fourth CLO for which the Investment Manager acts as investment manager. The Investment Manager currently manages four CLO vehicles.

GTAM was established 1 March 2000 and today is one of the largest independent employee-owned asset managers focused on global credit markets, managing a variety of alternative and long only strategies with approximately U.S.$26 billion in assets under management, based on unaudited estimates, including total capital committed as of 1 February 2018. GTAM has a long history of managing leveraged credit strategies over market cycles and currently manages approximately U.S.$3.0 billion across six CLO vehicles. GTAM's principal place of business is New York, New York. GTAM also has an office in London, United Kingdom.

Eligibility criteria (includes): it is a Senior Secured Loan, a Senior Secured Bond, an Unsecured Senior Loan, a Mezzanine Obligation, a Second Lien Loan, a Corporate Rescue Loan or a High Yield Bond; it is not a Defaulted Obligation or a Credit Impaired Obligation; it is not a lease; it is not a Structured Finance Security, letter of credit or a Synthetic Security; it is not a Zero Coupon Security; it is not a Project Finance Loan; it is not a Step-Down Coupon Security; has a purchase price of no less than 60.0% of the Principal Balance.

The Issuer anticipates that, by the Issue Date, it or the Investment Manager on its behalf will have purchased or committed to purchase (including allocated new issues) Collateral Debt Obligations, the Aggregate Principal Balance of which is approximately 95.0% of the Target Par Amount. The transaction features a 4.5-year reinvestment period, expected to expire in July 2023.