The Irving, Tex.-based specialty lender boosted senior-note credit enhancement levels and has stabilized portfolio losses to break the AA ratings cap on its deals, according to S&P Global Ratings.
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The No. 5 global shipping container lessor is marketing $250M in bonds backed by $573.2M in marine cargo ship containers. The portfolio has an unusually high concentration of dry containers.
February 20
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KKR is resetting a 2012-vintage deal for the second time; it now has a reinvestment period of just 1.8 years compared with the more typical four or five years.
February 20
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Issuance volume of asset-backed securities for the year through February 15, 2018.
February 16 -
Nissan’s deal is backed by loans and will be sized at $1 billion or $1.3 billion, depending on demand. Hyundai Capital’s $1 billion transaction is backed by leases ranging from 24 to 48 months.
February 16
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Democratic lawmakers are objecting to acting CFPB Director Mick Mulvaney's decision to strip the fair-lending office of enforcement powers.
February 16
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Grow was previously director of MBS and ABS securities; he replaces VIckie Tillman, who retired in December after overseeing the company's expansion into a diversified credit rating agency.
February 16
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The $525.7 million transaction is backed by stronger collateral than its previous deal, completed in August. But the sponsor still had to increase the credit enhancement on the senior tranche.
February 16
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The all-senior note structure is backed by $812 million in loans, and supported by low 3.5% credit enhancement based on low historical loss rates of John Deere securitizations.
February 15
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For the fifth time since early 2016, American Honda Finance is hedging on oversubscribed demand for its prime-loan receivables-backed notes with a potential upsizing.
February 15
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Despite a legislative push by some senators and other stakeholders to jump-start housing finance reform, efforts to form consensus over a bill once again are stuck in neutral.
February 15
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The new transaction, the $608 million Business Jet Securities, Series 2018-1, is less than half the size of the $1.48 billion deal pulled in September; it also appears to be less risky, by several measures.
February 15
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Onex reset a deal, agreeing to a higher coupon on the AAA-rated senior notes, in order to gain a five-year reinvestment period extension; it substantially narrowed spreads on subordinate notes.
February 15
