A few took advantage of deep discounts to scoop up collateral for new deals on the cheap; others swapped out some of their weakest credits for more highly rated loans.
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Late payments on loans backing commercial mortgage bonds continued falling at the start of the year, due to strong new issuance volume and continued resolutions for precrisis loans by special servicers, according to Fitch Ratings.
February 11
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The $756 million GSMS 2019-GC38 is backed by with 36 loans secured by 53 properties; nine of the loans (29.2% of the total balance) are secured in whole or in part by 12 single-tenant properties.
February 11 -
Howard Goldwasser and Skanthan Vivekananda will be based in New York and Los Angeles, respectively.
February 11
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GM Financial is front-loading the $1.2 billion deal with early maturities, according to presale reports; Hyundai Capital is also readying a $710 million transaction.
February 8
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Golub Capital BDC has also obtained shareholder approval to boost leverage, but David Golub said this was designed to give the middle-market lender more flexibility.
February 8
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Tier 7 loans, which have lower limits on free cash flow and allow negative personal income, account for 7.26% of the collateral for the online lender's next transaction, according to Kroll.
February 8
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Chrysler vehicles dominate Santander's latest pool, reflecting increased originations that CEO Scott Powell believes will maintain the lender's captive-finance status.
February 7
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The firm founded by mortgage veteran Michael Vranos looks for leveraged loans it considers "misrated" with strong covenants; many of these loans also amortize relatively quickly.
February 7
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The 131 basis-point spread for Buckhorn Park CLO is 14 basis points wider than Blackstone's previous deal in November, but in line with peer deals from recent weeks.
February 6
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The New York and Israel-based investment management startup selected the initial collateral using machine-learning decisions; AI will also be used in determining when to sell consumer loans in the portfolio or buy additional assets.
February 6
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For the first time in almost two years, borrowers are taking out floating-rate loans to refinance their student debt. So Navient is testing investor appetite for floating-rate bonds backed by refinance loans.
February 6
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Och-Ziff Capital is suing BNY Mellon, as trustee, to compel it to calculate interest in a way that is more favorable to the class of securities it holds.
February 6
