CIG is marketing $161.9 million in bonds backed by auto loans made through independent dealers, while RAC is placing a $174.5 million securitization of used-car leases.
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Bancorp 2019-CRE5 contains 46 loans on apartment buildings accounting for 82.4% of the collateral pool; that's up from 78.8% for the sponsor's prior deal.
March 8
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The $1 billion DRIVE 2019-2 is backed by loans with slightly weaker credit metrics than the lender's prior deal, forcing it to increase credit enhancement.
March 7
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Paramount Equity Mortgage sold a solar finance business to SolarCity (now Tesla) in 2013; it has since rebranded itself as Loanpal and is readying its first solar loan securitization.
March 7
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Despite a lower rate of increase, 2019 equity gains could pull 350,000 households from being underwater on mortgages, according to CoreLogic.
March 7
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Oil and gas firms have represented the largest sector concentration for Enterprise Fleet Management since 2012, but had declined slightly in the sponsor's previous transaction.
March 7
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PGIM gains a 20 basis-point reduction in the AAA note coupon as it reduces the reinvestment period by six months
March 6
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Investors appear to be willing to accept lower spreads in exchange for tying their money up for less time; CLO managers may be hoping to refinance when market conditions improve.
March 6
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Hines Interests used the $755 million loan from Goldman and JPMorgan to take out a $505 million mortgage from two insurance companies, MetLife and New York LIfe.
March 6
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The majority of the collateral for Finsbury 2019-1 was originated over the past year, but it includes some loans from a 2016 deal that has been called; some of these older loans are delinquent.
March 6
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Brick-and-mortar retail isn’t dead yet. Though the trend of retailers closing stores in the face of stiff competition from e-merchants is certainly troubling to commercial real estate lenders, it would be a mistake to conclude that all retail loans are risky. Here's a look at which ones are the safest and, potentially, the scariest.
March 5
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After waiting a decade to return to the CLO market, AIG now has taken less than three months to issue a second deal through its new "CLO 2.0" platform.
March 5
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Of the $300 million in proceeds, $90 million will be set aside to fund future acquisitions; the rest will repay an outstanding tranche of variable funding notes and pay a dividend to Roark Capital.
March 5
