© 2026 Arizent. All rights reserved.
For reprint and licensing requests for this article, click here.
The deal continues BHG's more recent streak of securitizing loans collateralized exclusively by consumer loans. The deal is the program's sixth term 144A securitization backed by consumer loans.
A new originator and acquirer is on tap for the SDART program, and comes to market under Rule 144A, unlike previous Santander transactions.
While much of the borrowing for the AI buildout has gone toward data-center construction, increasingly large debt packages are now being arranged to finance the chips.
Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.
Slated to close on March 24, the deal is Capteris' second 144A term securitization and has a stressed cumulative net loss rates ranging from 25.14% to 7.75%.
