Chicago, Feb. 15 – MidCap Financial Services Capital Management LLC refinanced and extended for $1 billion the collateralized loan obligation issued by Woodmont 2018-4 Trust, according to a pre-sale report.
The notes will now mature on April 20, 2034.
The refinanced CLO consists of $580 million of class A-1R floating-rate notes at SOFR plus 164 basis points, $25 million of class A-2R floating-rate notes at SOFR plus 190 bps, $75 million of class B-R floating-rate notes at SOFR plus 205 bps, $80 million of class C-R floating-rate notes at SOFR plus 285 bps, $60 million of class D-R floating-rate notes at SOFR plus 405 bps, $70 million of class E-R floating-rate notes at SOFR plus 840 bps and $112.36 million of certificates.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2026.
Backing the notes are middle-market speculative-grade senior secured term loans.
The notes can be called starting April 20, 2024.
Deutsche Bank 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 2018-4 Trust
|
| Issue: | Floating-rate notes and certificates
|
| Amount: | $1,002,360,000
|
| Maturity: | April 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | April 20, 2024
|
| Settlement date: | April 11
|
|
|
| Class A-1R notes
|
| Amount: | $580 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 164 bps
|
| Rating: | S&P: AAA
|
| Fitch: AAA
|
|
|
| Class A-2R notes
|
| Amount: | $25 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $75 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 205 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $80 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 285 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $60 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 405 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-R notes
|
| Amount: | $70 million
|
| Securities: | Floating-rate notes
|
| Coupon: | SOFR plus 840 bps
|
| Rating: | S&P: BB-
|
|
|
| Certificates
|
| Amount: | $112.36 million
|
| Securities: | Certificates
|
|
|
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