Chicago, Nov. 17 – MidCap Financial Services Capital Management LLC refinanced and extended for $658.33 million the collateralized loan obligation issued by Woodmont 2017-1 Trust, according to a pre-sale report.
The notes will now mature on Oct. 18, 2033.
The refinanced CLO consists of $380.25 million of class A-1-RR senior secured floating-rate notes at Libor plus 152 basis points, $9.75 million of class A-2-RR senior secured floating-rate notes at Libor plus 180 bps, $52 million of class B-RR senior secured floating-rate notes at Libor plus 192.5 bps, $52 million of class C-RR senior secured deferrable floating-rate notes at Libor plus 265 bps, $32.5 million of class D-RR senior secured deferrable floating-rate notes at Libor plus 385 bps, $45.5 million of class E-RR senior secured deferrable floating-rate notes at Libor plus 840 bps and $86.325 million of certificates.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on Oct. 18, 2025.
The notes can be called starting Oct. 18, 2023.
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 2017-1 Trust
|
| Issue: | Floating-rate notes and certificates
|
| Amount: | $658.325 million
|
| Maturity: | Oct. 18, 2033
|
| Structure: | Cash flow CLO
|
| Placement agent: | Deutsche Bank Securities Inc.
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | Oct. 18, 2023
|
| Settlement date: | Oct. 19
|
|
|
| Class A-1-RR notes
|
| Amount: | $380.25 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 152 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2-RR notes
|
| Amount: | $9.75 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 180 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-RR notes
|
| Amount: | $52 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | Libor plus 192.5 bps
|
| Rating: | S&P: AA
|
|
|
| Class C-RR notes
|
| Amount: | $52 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 265 bps
|
| Rating: | S&P: A
|
|
|
| Class D-RR notes
|
| Amount: | $32.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 385 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E-RR notes
|
| Amount: | $45.5 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | Libor plus 840 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $86.325 million
|
| Securities: | Subordinated notes
|
|
|
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