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The portfolio consists of first-lien, fixed-rate and interest-only balloon RTLs. They were originated with original terms of six to 24 months to maturity.
July 23 -
MMP Capital has sold securitized bonds backed by equipment before, this will be the first one secured by medical aesthetic equipment contracts
July 22 -
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The framework would entail lenders of a nearly $5 billion secured loan due 2027 being partially paid and unsecured creditors receiving a coupon bump in return for agreeing to extend due dates.
July 18 -
There is a liquidity reserve account that will be fully funded to its required amount when the deal closes.
July 17 -
The deal includes two triggers, one for debt service coverage ratio, and the other for loan-to-value ratio.
June 26 -
The deal also includes a cumulative default trigger that, if in effect, will revert the GDLP 2025-2 deal to a sequential payment priority.
June 25 -
They are not municipal bonds, but they follow municipal bond repayment practices.
June 24 -
On a cumulative basis, advance rates on the notes range from 95.4% on the A1 notes to 121.8% on the class M5 notes.
June 3 -
When it closed in February 2024, Toorak 2024-RRTL1 became the first rated RTL completed. Managers increased the capital raise to $240 million, from the initial $192 million.
May 19