The copolymerization of glycolide with e-caprolactone was performed in the presence of tin octoate at moderate temperatures (100 and 150°C). The influence of the conditions (comonomer ratio, temperature) on the chain microstructure of the obtained copolymers was examined. Transesterification was found to affect considerably the course of the process. The effect of copolymer composition and chain microstructure on thermal properties was also investigated. A phase separation of glycolidyl and caproyl microblocks was observed. The heat of melting of the crystalline phases was found to be dependent on the length of glycolidyl and caproyl microblocks.