Data center revenue to support $500 million in ABS from TierPoint Issuer
The notes benefit from various levels of debt service coverage ratio (DSCR) triggers that help support repayment.
ABS
Jeffries prepares to being $143.2 million in unsecured consumer loans
Jeffries is preparing to sponsor $143.2 million in securitized bonds backed by unsecured consumer loans underwritten largely through income verification. The trust, Upgrade Master Pass-Thru Trust, series 2025-ST2, will issue just one tranche of notes, which gets a BBB rating from Morningstar | DBRS, which has an expected final maturity date of June 15, 2032. […]
Palmetto HASI sponsors first residential solar ABS, raising $286 million
The structure includes credit enhancement from overcollateralization representing 16.4% of the pool balance.
Pagaya prepares to launch $295 million in auto ABS
Principal payments, will be repaid through three periods of a full turbo period, a non-turbo period and another full turbo period before an amortization trigger event.
Newtek’s small business loans support $184 million in ABS
When the deal closes, NALP Asset Backed Securities will deposit $32.1 million in the prefunding account to purchase additional loans.
IPv4 address provider Cogent raises $164.4 million
Less than 1% of IPv4 addresses is available to brokers or IP address lessors globally, and Cogent already controls part of that supply.
Nomura markets chief to boost hiring as revenue jumps to record
For the first time in a decade, the metric also rose in the nine months to Dec. 31 across all segments — including equities, macro and spread products.
Morgan Lewis hires Brandon Figg from SEC, growing ABS partner roll
Figg will advise financial institutions, issuers, arrangers and underwriters on asset-backed securities (ABS) deals, collateralized loan obligations among other transactions.
Mission Lane raises $300 million on credit card revenues
A reserve account starts off at 0.0%, but its funding level varies in line with three-month average excess spreads, if it falls below certain thresholds.
Timeshare loans set to back Holiday Inn Club’s $229.4 million in notes
Borrowers are considered prime in this pool, but Fitch Ratings notes that delinquency rates have been increasing since 2022.
Agricultural equipment secures $872.6 million from CNH Industrial
Total hard credit enhancement will represent 4.5% of the note balance, and initial reserves amounting to 2.0% of the pool.
Dext Capital sells $518.4 million in equipment securitization
The pool is diversified, with its top obligor accounting for 3.2% of the pool balance, and the top 10 obligors account for 14.1%.
Foundation Finance to sell $375.4 million in home improvement ABS
From the Q3 2021 to the early 2024 vintages, cumulative gross loss (CGL) levels had been trending up, likely due to consumer credit normalizing, due to inflationary pressures.
Volvo gets set to raise $677.1 million backed by equipment loans
Fitch notes that 74.8% of the collateral pool, made up entirely of 3,103 loans, is backed by trucking—or transportation—equipment.
Banker’s Healthcare floats $297.2 million consumer loan ABS
It is the program's second issuance to come to market with a pool made up entirely of consumer loans.
Medical equipment helps collateralize NMEF Funding’s $410.1 million ABS
There is also a trigger embedded in the deal, attached to cumulative net losses that would set off a full turbo payment.
T-Mobile raises $561.3 million from installment plan revenue
Amortization will start after the deal's two-year revolving period, when the trust will deposit revenue including collections and upgrades into the acquisition account.
Affirm sponsors $777.6 million in unsecured consumer loans
Affirm grade A loans account for 34.8% of the pool and have historically produced the lowest defaults in the sponsor's managed portfolios.
Equipment contract revenue secures $731.1 million from Kubota Credit Owner Trust
The current pool has smaller exposures to the construction and turf sectors compared to the 2024-2 series, which have seen higher loss rates than the agriculture sector.
Gilead Aviation prepares to sell $600 million from
Unlike most aircraft securitizations, Gilead 2025-1 uses a mortgage amortization style, de-levering at a lower rate compared to a more typical straight-line payment style.
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