New Mountain Net Lease, a platform of alternative investment manager New Mountain Capital, has closed its inaugural asset-backed securities issuance, NMNL 2025-1, totaling $493.4 million. The debut transaction attracted significantly oversubscribed demand from institutional investors, including many who have previously participated in New Mountainās other securitized offerings. Goldman Sachs and Evercore served as underwriters.
āThe high demand and attractive pricing levels, especially for a debut issuance, demonstrate the strength and scalability of our platform,ā said Teddy Kaplan, Managing Director and Head of New Mountain Net Lease. āThis establishes a foundation for continued, efficient access to the ABS market, which will benefit all our investors through the potential for enhanced spreads and returns.ā
The securitization included AAA through A-rated bonds and was structured at a 70% loan-to-value ratio, with an anticipated repayment date of five years.
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