Chicago, June 16 – MidCap Financial Services Capital Management LLC sold $402.9 million in a collateralized loan obligation being issued by Woodmont 2023-12 LP/Woodmont 2023-12 LLC, according to a presale report.
The notes will mature on July 25, 2031.
The CLO consists of $205 million of class A-1A senior secured floating-rate notes at SOFR plus 250 basis points, $35 million of class A-1B 7.05% senior secured fixed-rate notes, $8 million of class A-2 senior secured floating-rate notes at SOFR plus 310 bps, $24 million of class B senior secured floating-rate notes at SOFR plus 365 bps, $32 million of class C senior secured deferrable floating-rate notes at SOFR plus 455 bps, $24 million of class D senior secured deferrable floating-rate notes at SOFR plus 690 bps and $74.9 million of subordinated notes.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on Static.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting July 6, 2024.
BofA Securities Inc. was the placement agent.
The Bethesda, Md.-based firm is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management LLC.
| Issuer: | Woodmont 2023-12 LP/Woodmont 2023-12 LLC
|
| Issue: | Floating-rate notes, fixed-rate notes and subordinated notes
|
| Amount: | $402.9 million
|
| Maturity: | July 25, 2031
|
| Structure: | Cash flow CLO
|
| Placement agent: | BofA Securities Inc.
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | July 6, 2024
|
| Settlement date: | July 6
|
|
|
| Class A-1A notes
|
| Amount: | $205 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $35 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 7.05%
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $24 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 365 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $32 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 455 bps
|
| Rating: | S&P: A+
|
|
|
| Class D notes
|
| Amount: | $24 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 690 bps
|
| Rating: | S&P: BBB-
|
|
|
| Subordinated notes
|
| Amount: | $74.9 million
|
| Securities: | Subordinated notes
|
|
|
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