MidCap Financial Services is marketing $251.7 million securitization of loans to life sciences and real estate companies.

The transaction, Elm 2016-1, will issue two senior tranches, a $25 million floating-rate tranche and a $195.2 million fixed-rate tranche, both rated single-A by Kroll Bond Rating Agency. There is also a $31.5 million, fixed-rate subordinate tranche rated triple-B. All of the notes have a legal final maturity of June 2025.

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