Prestige Financial Services is in the market with a $350 million securitization of subprime auto loans, its 14th since 1996, according to a pre-sale from Dominion Bond Rating Service (DBRS).
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The overall 30+ day CMBS DQ rate has fallen about 50 bps year to date to 9.07%, according to Trepp figures and this trend is likely to continue in 2013.
June 10 -
Springleaf Financial is looking to top up its debut consumer loans asset-backed securitization issued in February with a $400 million deal.
June 10 -
Consumer Portfolio Services is working on its second subprime auto securitization of the year; 31% of the $185 million transaction will be pre-funded.
June 7 -
PHH Corp. priced an upsized $700 million auto lease securitization called PHH Chesapeake Funding LLC 2013-1 today. The deal was originally sized at $450 million.
June 7 -
A policy fight is threatening the recovery of collateralized loan obligations in Europe.
June 7
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GoldenTree Asset Management is joining the list of U.S.-based CLO managers marching to Europe.
June 7 -
There's growing interest in bonds backed by shipping container leases, and this could prompt underwriters to structure deals with higher-rated tranches, according to DBRS.
June 7 -
Consumer ABS issuance is becoming more of a credit product than a liquidity product, as consumer fundamentals weaken and issuers find less need to access securitization in an environment of substantial liquidity, according a Wells Fargo securitization report.
June 6 -
The Vermont Student Assistance Corp. is planning to issue a $15.87 million private student loan securitization, according to Fitch Ratings.
June 6 -
Nationstar priced $2.0 billion of advance securitizations that will provide an incremental 1.75% interest rate savings to existing advance credit facilities.
June 6 -
SeaCube Containers plans to issue a $300 million container lease ABS deal called CLI Funding V LLC (Series 2013-2).
June 6 -
