February 2024
Deutsche Bank Trust and Agency Services (TAS) supports MidCap Financial Investment Corporation’s inaugural CLO
Deutsche Bank’s Trust and Agency Services (TAS) provided trustee, collateral administration, custodian, calculation, and paying agency services to facilitate a collateralised loan obligation (CLO) for MidCap Financial Investment Corporation (MFIC)
The MFIC Bethesda CLO 1, LLC comprises two classes of senior notes totalling US$248m, with a US$154.4m subordinated class – all due in 2035. This represents the first CLO issuance by MFIC, a publicly traded business development company that invests in middle market loans. Net proceeds from the issuance will provide financing on a portfolio of approximately US$400m in middle-market loans.1
Throughout the structuring and issuance Deutsche Bank supported these CLO transactions – service provision that has helped develop a longstanding partnership with MFIC. Deutsche Bank Securities Inc. also acted as the lead underwriter on the transaction.
Gary Vaughan, Corporate Trust Americas Head at Deutsche Bank, said, “We are delighted to have supported this successful transaction for MFIC and are excited to continue working with them.”
About MidCap Financial Investment Corporation
MidCap Financial Investment Corporation (NASDAQ: MFIC) is a specialty finance company focused on providing senior debt solutions to middle market companies. Its investment objective is to generate current income and, to a lesser extent, capital appreciation. The company derives significant benefits from its affiliation with Apollo and its unique partnership with MidCap Financial.
Apollo Investment Management, L.P., MFIC’s investment adviser, is an affiliate of Apollo Global Management, Inc. (Apollo) and its consolidated subsidiaries, (NYSE: APO). Apollo is a global, high-growth alternative asset manager and is a leading provider of alternative asset management and retirement solutions.