The loans, which are not federally guaranteed, are refinancings of student-loan debt held by prime borrowers primarily with advanced medical degrees.

The transaction will be the second corporate-fleet ABS deal to price this month, following Wheels Inc.'s $505 million transaction that closed Sept. 11.

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 11-17

Banks reported decent loan growth in the spring and early summer as businesses rushed to draw down credit lines and tap the Paycheck Protection Program. But demand has been muted since, and bankers can only guess when it will pick back up.

Mortgage rates remained relatively flat, rising a single basis point off of last week's record low, according to Freddie Mac.

Fannie Mae and Freddie Mac have been slammed for planning an additional refinancing charge to cover COVID-related losses, but the head of the Federal Housing Finance Agency defended the policy in House testimony.

Low rates, along with increased new and existing home sales activity drives the latest forecast.

S&P stated lessors are confronted with the increasingly troubled financial health of airlines, which has led to a sharp drop in aircraft values and lease rates as well as an array of requests for deferrals or delayed payments on rental contracts.

Mortgage applications decreased 2.5% from one week earlier as refinance activity appears to decelerating, according to the Mortgage Bankers Association.

The captive-finance lender for U.S. Mercedes-Benz deals closed on its second transaction of the year, and the first auto-lease ABS to price since July.

A new report on bank-held commercial real estate and C&I loans indicates troubled borrowers may be skipping payments on loans they won't be able to refinance or extend over the next year, leading to a potential wave of defaults over the next four to six quarters.

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.