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The deal includes two triggers, one for debt service coverage ratio, and the other for loan-to-value ratio.
June 26
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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
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They are not municipal bonds, but they follow municipal bond repayment practices.
June 24
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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
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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 -
SunStrong Issuer also includes a sequential amortization trigger. Should the cumulative default level exceed the applicable trigger level.
May 15
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The dental and medical spa industries accounted for 60.1% and 26.0% of the deal's balance.
May 12
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The transaction will issue about 10 classes of notes, composed of one term bond and nine serial bonds.
May 5
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The deal taps into insurers' growing demand for long-dated private credit investments. More than a dozen investors, are set to participate in the transaction.
April 29
