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Notes are expected to pay a coupon of about 2.5% over the Swiss Average Rate Overnight (SARON) with an expected maturity of seven years.
August 29
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Ratings analysts caution that the notes have a WA life of about three years while, and the underlying asses have a WA remaining term of about 20 years.
August 27
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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
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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
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There is a liquidity reserve account that will be fully funded to its required amount when the deal closes.
July 17
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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
