Metronet’s latest fiber network ABS raises $903.4 million
When the deal closes the indenture will be amended to allow it to issue liquidity funding notes, which will serve as a liquidity backstop to fund shortfalls in the liquidity reserve account.
Esoteric ABS
Aqua Finance prepares to sell $381.3 million in ABS
Borrowers had a WA FICO of 742, as new partnerships with equipment manufacturers, primarily marine craft and RVs, contributed higher-quality obligors to the pool.
Stream Innovations returns to raise $302.4 million from home remodels
The current series, STRE 2026-1, is expected to have a prefunded pool balance that is 31.1% of the aggregate pool balance, higher than the 20% balance on the STRE 2025-1.
Health and wellness franchises back $737.8 million
The global Purpose Brands umbrella includes Anytime Fitness, Orangetheory Fitness, Waxing the City waxing studios, and Bar Method, low-impact studio fitness.
Avis Budget raises $568.2 million from rental far fleet
Letters of credit sized to cover interest payments for six months, plus a cushion, help provide credit support to the notes.
Fidelis Mortgage Trust sets out to raise $112.1 million from fix-and-flip pool
The deal benefits from three accounts–a Funding, Expense Reserve and Interest Reserve. The Funding Account will fund draws and purchase additional loans.
Fiber network provider Fidium’s latest master trust issuance raises $664.6 million
The latest Fidium issuance has an implied 170% haircut, and the debt multiple, relative to its net cash flow on the rated classes, is 10.2x.
Castlelake completes first aircraft ABS repayment since pandemic
The investment managers new deal launches into a healthy aircraft market.
By
John Hintze
Sabal returns to raise $430 million in residential solar ABS
Customers with a FICO of at least 700 accounted for about 75.3% of the PV systems by the aggregate discounted solar asset balance (ADSAB).
ME Funding raises $340.7 million in ABS from franchise revenue
If the senior leverage ratio is between 4.00x and 4.50x, then the transaction will pay down all outstanding class A2 note principal with 40% of all excess cash flows.
Vertical Bridge REIT sells $1.9 billion in cell tower ABS
The deal is the cell tower sector's largest-ever securitization and features its first single-B rated tranche.
PK ALIFT raises $900 million from aviation contracts
The highly diversified pool mix consists of 29 different aviation asset types, with a third being new and emerging technology aircraft, and 45.7% are current technology aircraft.
Fatburger owner is the latest casual-dining bankruptcy
The step came after FAT Brands didn't make interest payments due in October on some of its $1.2 billion in whole-business securitization debt.
Pagaya AI Debt opens its year with a $595.8 million offering
During a three-month period after closing, PAID 2026-1's prefunding account will use deposits to purchase unsecured consumer loans, if they meet eligibility criteria.
DataBank Issuer and Co-Issuer raises $665 million in ABS
The centers are also located in 15 markets, with the largest market accounting for 20.3% of the pool's annualized revenue.
Perseus readies $680.1 million aircraft ABS deal
By aircraft value, Fitch says 6% are leased to credits considered investment grade, while the weighted average rating by Fitch Value ranges between 'B' and 'B-'.
Vantage Data Centers’ Europe push raises $254 million
Sponsors used a master trust structure, raising £200 million and £54 million through the existing class A2 and class B tranches.
Reach Financial’s first deal this year raises $550 million
Express Settlement Loans, or E-Loans, extended to customers enrolled in a debt relief program, and Consolidation Loans, or C-Loans, for more qualified borrowers are in the pool.
Utility Debt Securitization raises $1 billion from utility restructuring charges
The true-up mechanism is charged annually, but can be paid more frequently to ensure notes make timely payment of principal and interest of the 2025 revenue bonds and related financing costs.
WLFC Partners with Blackstone to fuel aircraft leasing
Another strong year for aircraft leasing and ABS is expected for 2026, due partly to limited growth prospects from equity capital.
By
John Hintze
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