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Merchants Capital Closes on $1.1B Securitization
Financial services provider Merchants Capital, based in Carmel, IN, said recently it has completed more than $3 billion of securitizations since the formation of its capital markets group in 2020. The most recent securitization, for $1.1 billion, occurred at the end of March.
For this securitization, the Capital Markets team, alongside leading seniors housing and healthcare lender VIUM Capital and structuring agent and sole bookrunner ATLAS SP Partners, securitized first-lien floating-rate skilled nursing and seniors housing bridge loans. Merchants Capital will continue to service these loans.
Merchants Bank of Indiana issued and sold $158 million aggregate principal balance of Senior Credit Linked Notes, representing approximately 14% of the reference pool. The resulting reduction in risk weighted assets for this pool of loans supports further growth and lending capacity at Merchants Capital and VIUM Capital. This synthetic securitization comes just six months after closing a securitization of $1.2 billion in multifamily bridge loans.
- ◦Financing
