The U.S. House Financial Services Committee today overwhelmingly approved a bill that would grant a two-year extension to the deadline for banks to divest in CLOs that they are prohibited from holding under Volcker Rule.
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The company anticipates gross proceeds from the sale of its certificates of approximately $481 million, with a duration-weighted blended interest rate of LIBOR plus154 basis points.
May 14 -
Honda American Finance Corp and Porsche issued a total of $1.4 billion in securities backed by prime auto loans receivables that priced at similar levels.
May 14 -
Fannie Mae and Freddie Mac could triple issuance of securities linked to the performance of mortgages that they insure under goals released by their regulator today.
May 13 -
The state is expected to draw up to $31.5 million from a reserve account to cover debt-service payments on its Buckeye tobacco bonds.
May 13
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The Senate Banking Committee will vote Thursday on legislation to overhaul the housing finance system after abruptly postponing deliberations late last month.
May 13
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Educational Services of America is marketing $411 million of student loan backed securities, according to a presale report published by Moodys Investors Service.
May 13 -
Ford Motor Co.'s European lending arm, FCE Bank, plans to issue 543.5 million ($745 million) of securities backed by German auto loan receivables.
May 13 -
As of May 1, roughly 165, or 26% of all U.S. CLOs ratedy by Moodys Investors Service and issued before the financial crisis had some Texas Competitive exposure, including eight with 20% or more exposure.
May 12 -
Securitization of single commercial loans is down this year, and that's partly because larger loans on retail malls are being used as collateral in conduits, according to J.P. Morgan.
May 12
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Honda American Finance Corp. is readying its second prime auto loan securitization of the year, according to a presale report published by Moodys Investors Service.
May 12 -
The deal will publicly offer $595 million of securities backed by credit card receivables. Barclays, RBC Capital Market and RBS are the lead underwriters.
May 12 -
The chance of any housing finance reform bill moving in Congress this year as well as in the foreseeable future is now seriously in question after six key Democrats have apparently rejected the plan offered by Senate Banking Committee leaders.
May 12
