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The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.
The regional bank is offloading a $1.9 billion student loan portfolio in order to focus on its relationships with existing customers, said CEO Bruce Van Saun.
Lower borrowing costs, reduced exposure to the urban office sector and flattening vacancy rates could collectively save lenders from beleaguered corners of the commercial real estate market.
Firstrust Savings Bank and First Citizens Bank originated the loans, all of which are in-school, and a vast majority of the loans in the pool, 82.0%, are fixed rate.
The securitization amount is smaller than an earlier transaction, and its AAA notes are expected to price at wider spreads than the AAA notes on the 2024-A series.
