Chicago, Nov. 28 – MidCap Financial Services Capital Management LLC sold $511.14 million of notes in a collateralized loan obligation being issued by Woodmont 2022-10 Trust, according to a presale report.
The notes will mature on Oct. 20, 2034.
The CLO consists of $290 million of class A senior secured floating-rate notes at SOFR plus 325 basis points, $45 million of class B senior secured floating-rate notes at SOFR plus 400 bps, $40 million of class C senior secured deferrable floating-rate notes at SOFR plus 520 bps, $25 million of class D senior secured deferrable floating-rate notes at SOFR plus 708 bps, $35 million of class E senior secured deferrable floating-rate notes at SOFR plus 905 bps and $76.14 million of certificates.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on Oct. 20, 2026.
Collateral for the notes consists of senior secured loans, cash and eligible investments.
The notes can be called starting Oct. 20, 2024.
Apollo Global Securities LLC 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 2022-10 Trust
|
| Issue: | Floating-rate notes and certificates
|
| Amount: | $511.14 million
|
| Maturity: | Oct. 20, 2034
|
| Structure: | Cash flow CLO
|
| Placement agent: | Apollo Global Securities LLC
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | Oct. 20, 2024
|
| Settlement date: | Nov. 18
|
|
|
| Class A notes
|
| Amount: | $290 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 325 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $45 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 400 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $40 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 520 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $25 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 708 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $35 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 905 bps
|
| Rating: | S&P: BB-
|
|
|
| Certificates
|
| Amount: | $76.14 million
|
| Securities: | Certificates
|
|
|
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