Digital investment ABS prepped
DigitalBridge Group is in the market with its debut securitisation, the US$500m DigitalBridge Issuer Series 2021-1. The unusual transaction is secured by the firm’s digital investment management fees and carried interest, including from future investment vehicles.
The triple-B rated notes will be issued in two classes: a US$300m class A2 secured fund fee revenue tranche, to be drawn in full at closing; and a US$200m class A1 variable funding tranche that can be drawn, repaid and subsequently re-drawn over the deal’s five-year term.
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