Leaner Trinity returns with another $530M railcar fleet securitization
After spinning off its infrastructure-related businesses in November, it is more focused on rail manufacturing and leasing; the new deal is backed by 7% of its fleet.
Esoteric ABS
Aviation credit markets grappling with Boeing 737 MAX
Five EETCs totaling $3.9 billion have exposure to the type of jet involved in Sunday's crash; but there are none in lease ABS, which could benefit from higher valuations of replacement aircraft.
Finch’s 1st tax lien ABS features properties in bankruptcy
The $209.7 million FCI Funding 2019-1 also features unusually high exposure to vacant land, which is generally considered to be a riskier asset than residential or commercial property.
J.G. Wentworth gets easier Aaa on next structured settlement ABS
J.G. Wentworth first securitization of 2019 is backed by a similar mix of structured settlement and annuities receivables as its second deal of 2018, but the credit quality of the insurers making these payments is higher.
Fitch expects oil & gas companies to tap securitization market
The rating agency has developed rating criteria for bonds backed by oil and gas royalties, though such deals would be capped at the 'A' rating category.
Upgrade has some skin in its 2nd consumer loan securitization
The online lender founded by Renaud Laplanche contributed half of the collateral for the $226.9 million transaction. It's also retaining a 5% economic interest in the deal.
By
Glen Fest
Newly profitable, Mosaic going it alone on next solar securitization
The specialty finance company is contributing all of the collateral for the $259.7 million deal; by comparison, the previous deal included collateral contributed by Goldman Sachs.
Oxford Finance readies 1st life sciences loan ABS in over 2 years
The $312 million transaction a 24-month reinvestment period, in which principal collections can be used to invest and acquire additional loans for the collateral pool.
By
Glen Fest
Aetna issuing 1st catastrophe bond since being acquired by CVS
S&P sees some potential integration risk that could materially affect the business being reinsured; in November it lowered its issuer credit ratings and financial strength ratings on Aetna.
Hunton Andrews Kurth adds structured finance partner in London
David Klass is known for his insights into tax developments in the U.K. related to Brexit; he joins the firm after more than a decade at Gide Loyrette Nouel.
Shipping industry seeks additional sources of capital as banks pull back on lending
Reduced bank lines and a major shipping firm consolidations in 2018 could lead to strengthened firms shifting to alternative capital in the debt markets next year.
By
Glen Fest
Rapid Financial Services taps securitization to fund merchant cash advances
The initial offering is just $80 million, but transaction documents allow RFS to issue up to $500 million, as long as certain conditions are met, which could dilute the control and voting rights of the existing noteholders.
AT&T raises another $1.7B handset financing in 4th deal of 2018
The wireless carrier has issued a total of $6.7 billion to year-to-date via four transactions; that's up from $2.65 via two deals in 2017 and a single, $1 billion deal in 2016.
Two aircraft lease ABS exposed to demise of Lithuanian airline
Carlyle Aviation Capital's AASET 2016-1 and ACG-affiliated Merlin 2016-1 each have a single aircraft on lease to Small Planet, according to Deutsche Bank Securities.
DRI Capital to issue another $100M of pharmaceutical royalty ABS
The bonds will be collateralized by payments from 15 royalty streams on 14 patent-protected drugs and technologies and will rank pari passu with securities issued from the same master trust in 2017.
By
Glen Fest
Vx Capital taking a test flight with $189M freighter aircraft ABS
Commercial aircraft are considered end-of-life after 18 years, but older passenger planes are often converted to freighter cargo. Nearly 4% of the planes in Vx’s collateral pool exceed 30 years of age, according to Kroll.
By
Glen Fest
SunRun readies its 1st solar lease ABS in 3 years
The $378.5 million transaction is more heavily leveraged than the sponsor's prior deal, completed in 2015; it is also rated one notch lower by Kroll.
Rosy Blue tapping ABS for $150M to refinance diamond inventory
Proceeds from the deal, which is rated by Kroll Bond Rating Agency, will be used to repay unrated notes that the company issued earlier in 2018.
SunPower readies $400M residential solar lease securitization
The transaction, which consists of a single tranche of notes with a preliminary A rating from Kroll Bond Rating Agency.
BBAM Aviation Services markets first aircraft lease ABS in three years
The $612 million Horizon Aircraft Finance 1 carries preliminary single-A ratings from Fitch and Kroll, on par with the $1.2 billion deal the sponsor completed in 2015.
By
Glen Fest
Load More
Couldn’t load more articles. Try again.