Extract to table
Pull the structured facts out of a document: parties, dates, amounts, obligations.
Extract to table / closing-memorandum-post-closing-summary.docx
closing-memorandum-post-closing-summary.docx
Parties
HARKNESS LLP
Driftwood Absolute Return Fund Ltd
National Registered Agents Inc
Manager Driftwood Credit Management LLC
Agents Meridian Atlantic Securities LLC
Distribution Northbridge Capital Markets Inc
Agencies Brindoval Analytical Services Inc
Analyst Ridgeline Credit Ratings LLC
Dates
September 22, 2023
August 22, 2023
September 8, 2023
September 12, 2023
September 20, 2023
December 12, 2023
January 15, 2024
September 12, 2025
September 12, 2028
October 15, 2036
Amounts
$400,000,000
$6.8
$80,000,000
$45,000,000
$22,000,000
$364,000,000
$36,000,000
$250,000
$1,000
$250,000,000
Obligations
Certain post-closing compliance items remain outstanding, most notably the satisfaction of the Effective Date conditions set forth in the Indenture, which must be achieved by December 12, 2023 (90 days following the Pricing Date)
The Effective Date Deadline, by which the portfolio must be fully ramped and all collateral quality tests must be satisfied, is December 12, 2023 (90 days following the Pricing Date of September 8, 2023)
Satisfaction of the Effective Date conditions requires compliance with each of the following: (i) The collateral portfolio must be ramped to the target par amount of $400,000,000; (ii) All collateral quality tests must be satisfied, including the minimum weighted average spread of 350 basis points, the minimum diversity score of 60, the maximum CCC bucket of 7
0%, and the minimum WARF of 2,850; (iii) All overcollateralization tests and interest coverage tests must be satisfied at the levels set forth in Section V