Chicago, April 25 – MidCap Financial Services Capital Management LLC priced $905.82 million in a collateralized loan obligation being issued by Woodmont 2023-11 Trust, according to a presale report.
The notes will mature on April 20, 2035.
The CLO consists of $522 million of class A-1 senior secured floating-rate notes at SOFR plus 250 basis points, $36 million of class A-2 senior secured floating-rate notes at SOFR plus 310 bps, $54 million of class B senior secured floating-rate notes at SOFR plus 370 bps, $72 million of class C senior secured deferrable floating-rate notes at SOFR plus 460 bps, $54 million of class D senior secured deferrable floating-rate notes at SOFR plus 666 bps, $54 million of class E senior secured deferrable floating-rate notes at SOFR plus 960 bps and $113.82 million of certificates.
MidCap Financial Services Capital Management LLC will manage the collateral through the end of the reinvestment period on April 20, 2027.
Collateral for the notes consists of meddle-market speculative-grade senior secured term loans.
The notes can be called starting April 20, 2025.
Apollo Global Securities LLC was the placement agent.
Well Fargo Securities LLC is the initial purchaser.
The Bethesda, Md.-based firm is managed by Apollo Capital Management, LP, a subsidiary of Apollo Global Management LLC.
| Issuer: | Woodmont 2023-11 Trust
|
| Issue: | Floating-rate notes and certificates
|
| Amount: | $905.82 million
|
| Maturity: | April 20, 2035
|
| Structure: | Cash flow CLO
|
| Placement agent: | Apollo Global Securities LLC
|
| Initial purchaser: | Well Fargo Securities LLC
|
| Manager: | MidCap Financial Services Capital Management LLC
|
| Call feature: | April 20, 2025
|
| Settlement date: | May 26
|
|
|
| Class A-1 notes
|
| Amount: | $522 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 250 bps
|
| Rating: | S&P: AAA
|
|
|
| Class A-2 notes
|
| Amount: | $36 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 310 bps
|
| Rating: | S&P: AAA
|
|
|
| Class B notes
|
| Amount: | $54 million
|
| Securities: | Senior secured floating-rate notes
|
| Coupon: | SOFR plus 370 bps
|
| Rating: | S&P: AA
|
|
|
| Class C notes
|
| Amount: | $72 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 460 bps
|
| Rating: | S&P: A+
|
|
|
| Class D notes
|
| Amount: | $54 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 666 bps
|
| Rating: | S&P: BBB
|
|
|
| Class E notes
|
| Amount: | $54 million
|
| Securities: | Senior secured deferrable floating-rate notes
|
| Coupon: | SOFR plus 960 bps
|
| Rating: | S&P: BB-
|
|
|
| Certificates
|
| Amount: | $113.82 million
|
| Securities: | Certificates
|
|
|
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