Chicago, Feb. 19 – MidCap Financial Services Capital Management LLC refinanced and extended the Woodmont 2017-2 Trust collateralized loan obligation due April 20, 2033 for a total of $1.21 billion, according to a report.
The CLO includes $696 million of class A-1-R floating-rate notes at Libor plus 167 basis points, $24 million of class A-2-R floating-rate notes at Libor plus 200 bps and $96.5 million of class B-R deferrable floating-rate notes at Libor plus 215 bps.
Also included in the portfolio are $96 million of class C-R deferrable floating-rate notes at Libor plus 275 bps, $72 million of class D-R deferrable floating-rate notes at Libor plus 375 bps and $59 million of class E-R deferrable floating-rate notes at Libor plus 875 bps.
There are also $162.2 million of subordinated notes
Citigroup is the arranger.
MidCap Financial will manage the CLO through the reinvestment period which ends April 20, 2025.
The notes cannot be called until April 20, 2023.
Proceeds will be used to redeem notes from the original transaction.
The Bethesda, Md.-based firm is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management LLC.
| Issuer: | Woodmont 2017-2 Trust
|
| Amount: | $1,205,700,000
|
| Maturity: | April 20, 2033
|
| Securities: | Floating-rate and subordinated notes
|
| Structure: | Cash flow CLO
|
| Placement agent: | Citigroup
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call: | April 20, 2023
|
| Pricing date: | Feb. 18
|
| Settlement date: | March 10
|
|
|
| Class A-1-R notes
|
| Amount: | $696 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 167 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-R notes
|
| Amount: | $24 million
|
| Securities: | Floating-rate notes
|
| Coupon: | Libor plus 200 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-R notes
|
| Amount: | $96.5 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 215 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-R notes
|
| Amount: | $96 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 275 bps
|
| Rating: | S&P: A
|
|
|
| Class D-R notes
|
| Amount: | $72 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 375 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E-R notes
|
| Amount: | $59 million
|
| Securities: | Deferrable floating-rate notes
|
| Coupon: | Libor plus 875 bps
|
| Rating: | S&P: BB
|
|
|
| Subordinated notes
|
| Amount: | $162.2 million
|
| Securities: | Subordinated notes
|
| Rating: | S&P: NR
|
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