Chicago, May 18 – MidCap Financial Services Capital Management LLC sold $450.9 million in a collateralized loan obligation being issued by Woodmont 2022-9 Trust, according to a presale report.
The notes will mature on April 25, 2034.
The CLO consists of $137 million of class A-1A senior secured floating-rate notes at SOFR plus 190 basis points, $80 million of class A-1L senior secured floating-rate loans at SOFR plus 190 bps, $44 million of class A-1B 4.61% senior secured fixed-rate notes, $9 million of class A-2 senior secured floating-rate notes at SOFR plus 215 bps, $11.8 million of class B-1 senior secured floating-rate notes at SOFR plus 230 bps, $24.2 million of class B-2 5.01% senior secured fixed-rate notes, $36 million of class C senior secured deferrable floating-rate notes at SOFR plus 340 bps, $27 million of class D senior secured deferrable floating-rate notes at SOFR plus 445 bps, $27 million of class E senior secured deferrable floating-rate notes at SOFR plus 888 bps and $54.9 million of subordinated notes.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on April 25, 2026.
Collateral for the notes consists of middle-market speculative-grade senior secured term loans.
The notes can be called starting April 25, 2024.
Natixis Securities Americas LLC (lead), Apollo Global Securities LLC and NatWest Markets plc are the placement agents.
The Bethesda, Md.-based firm is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management LLC.
| Issuer: | Woodmont 2022-9 Trust
|
| Issue: | Floating-rate notes, fixed-rate notes, floating-rate loans and subordinated notes
|
| Amount: | $450.9 million
|
| Maturity: | April 25, 2034
|
| Structure: | Cash flow CLO
|
| Placement agents: | Natixis Securities Americas LLC (lead), Apollo Global Securities LLC and NatWest Markets plc
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | April 25, 2024
|
| Settlement date: | June 7
|
|
|
| Class A-1A notes
|
| Amount: | $137 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1L notes
|
| Amount: | $80 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 190 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-1B notes
|
| Amount: | $44 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 4.61%
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $9 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 215 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B-1 notes
|
| Amount: | $11.8 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 230 bps
|
| Rating: | S&P: AA
|
|
|
| Class B-2 notes
|
| Amount: | $24.2 million
|
| Securities: | Senior secured fixed-rate notes
|
| Coupon: | 5.01%
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $36 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 340 bps
|
| Rating: | S&P: A
|
|
|
| Class D notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 445 bps
|
| Rating: | S&P: BBB-
|
|
|
| Class E notes
|
| Amount: | $27 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 888 bps
|
| Rating: | S&P: BB-
|
|
|
| Subordinated notes
|
| Amount: | $54.9 million
|
| Securities: | Subordinated notes
|
|
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