A recent challenge to the legality of leverage lending guidance could have broad implications for issuers, underwriters and investors in corporate loans. But the end result could be added complexity, rather than a wholesale easing of restrictions
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Triumph Capital Advisors doubled its business with a risk-retention driven acquisition of Doral Bank's CLO assets in 2015; the same regs spurred its spin-off as a separately capitalized vehicle to Pine Brook under CEO Gibran Mahmud.
July 10
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The two firms jointly obtained three separate loans totaling $706.7 million from Citigroup and Morgan Stanley on 52 retail properites with a combined 7 million square feet.
July 9
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Moody’s expects cumulative net losses of 0.55% of the collateral, while Fitch takes a more conservative view; it expects net losses to reach 1% due to a deterioration in the construction equipment sector.
July 9
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The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is delayed.
July 7
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The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.
July 7
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The collateral for the deal is heavily concentrated in the top three lessees, Quatar Airways, American Airlines, and Asiana; the deal permits the three to account for up to 65% of the portfolio.
July 6
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Morreale was previously a managing director and associate general counsel in the mortgage and legal group at Goldman Sachs, where he provided legal counsel for businesses across a range of asset-backed securities
July 6
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AutoGravity of Irvine, Calif., has received $30 million in equity financing from VW Credit, according to a source familiar with the matter.
July 6
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The German automaker was compelled to shift funding to asset-backeds in the wak of an emissions cheating scandal; it has now resumed issuing unsecured debt
July 6
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The £310.3 million (US$401.26 million transaction, Twin Bridges 2017-1, is backed by 965 prime mortgages underwritten to UK landlords by Paratus AMC Ltd., formerly known as GMAC-RFC.
July 6
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A new report from the American Bankers Association reinforces existing concerns about the ability of U.S. consumers to manage all of their debts.
July 6
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Loans between 61 and 72 months at origination decreased to 49.5% of the collateral for GM's latest transaction, down from 51.3% from the sponsor's April deal.
July 5
