Golden Ray markets Europe’s first rated solar ABS
Looking to raise €245 million ($264.2 million) in securitization bonds, Golden Ray will offer eight tranches maturing in December 2057.
ABS
Toronto-Dominion issues first credit-card backed CRT deal for 2024
The trust features early amortization event triggers, including excess spread percentages falling below the required amount for that period or principal payment rates falling below 10%.
Wyndham Consumer Finance returns to raise $325 million on timeshare ABS
The notes can withstand breakeven default levels of 73.38%, 57.8%, 40.71% and 34.17%, respectively. Those levels surpass the loss multiples of its expected 20.7% in cumulative gross defaults.
Aircraft debt sales are rebounding after Russia plane seizures
Sales of airplane leases bundled into bonds have climbed to more than $5 billion this year, from around $1 billion in 2022 and 2023.
Dell Equipment Finance prepares to raise $1 billion
The collateral pool is the largest in a year from the securitization program, whose yields are expected to range from 4.75% to 5.35%.
T-Mobile returns to bond market with deal it postponed last month
T-Mobile is broadly syndicating $500 million of securities, and the total size of the securitization is $561.34 million.
Harley-Davidson trust prepares to issue $631.5 million in notes
The current pool of borrowers with FICO scores below 700 represents 14.9% of the pool, compared with 13.5% of the 2023-B transaction, according to one analysis.
Apollo’s Atlas SP gets license to start secondary trading
In recent weeks, the firm has told structured credit investors that it will be able to soon facilitate secondary trades under the name Atlas SP Securities, a division of Apollo Global Securities.
ATLAS SP, Apollo and BNP Paribas announce securitization partnership
In the collaboration, BNP Paribas, the European Union's leading global bank will commit the $5 billion in financing to support investment-grade, asset-backed credit that ATLAS and Apollo will source from their issuer clients.
AXA launches new liquid strategy for ABS
The fund aims to bring greater granularity and spreads of consumer assets to institutional investors that typically have a greater exposure to corporate credit assets.
Avant returns after a stint to raise $450 million
Since July 21, 2021, the cutoff date before its last deal, Avant's active credit card accounts increased 388%, to its current 1 million accounts.
Volvo Financial preps $735.9 million in equipment vehicle ABS
On a cumulative basis, Moody's expects the asset pool to have a net loss of 1.25%, down from 1.50% in the prior deal.
Affirm Asset prepares to raise $500 million in unsecured consumer loans
Affirm Asset Securitization benefits from overcollateralization in several forms. Target overcollateralization during the revolving period will equal 2.65% of the initial adjusted pool balance.
John Deere Owner Trust looks to raise $1.4 billion in equipment finance
The pool consists of 16,272 contracts, with an average contract balance of $93,502. On a weighted average (WA) basis, the contracts have an original term of 55.7 months.
Consumer loans secures ACHV 2024-2PL’s bid for $263.3 million
Only loans from the Achieve Personal Loan product line are in the current collateral pool.
Oportun Issuance prepares to issue $223.2 million from consumer loans
Overcollateralization, subordination of the junior notes, a non-declining cash reserve account and excess spread provide credit enhancement to the notes.
LEAF Capital returns to issue $792.6 million through M&T Equipment’ latest series
There is no subordination for the class A notes, but managers opted for much more overcollateralization, which stands at 18.0% as a percentage of the initial pool balance.
De Lage Landen prepares to float $813.9 million in equipment ABS
A 1.50% residual value risk, down 1.50% from the prior transaction; and an Aaa loss of level 8.50%, an increase of 50 bps, puts expected losses at a Aaa is 10.0%, down 1.0% from the prior transaction.
Castlelake commits to buying up to $1 billion of Pagaya loans
Set up as a forward flow deal, will allow Castlelake to buy Pagaya-originated loans for a period spanning one year, with an option to extend the agreement further.
CCG Receivables Trust prepares to sell $476.3 million in equipment lease ABS
The pool consists of 2,384 contracts that Commercial Credit Group (CCG) and Keystone Equipment Finance (KEF) have extended to a customer base in the transportation, construction and waste industries.
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