Palmer Square refinances 2013 CLO, cutting spread on AAA-rated tranche to below 100 basis points; Dryden refinances 2014 European CLO: Five Guys cooking up $440M Whole Business securitization.
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Credit enhancement on the senior notes has been increased to account for a decline in residual values of some models of cars.
June 21
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CLO managers who accept lower interest payments on loans risk running afoul of deal covenants; but if they take their money back, there are few attractive options for putting it back to work
June 20
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The marketplace lender had to offer higher investor protections on a consumer loan securitization than rival Upstart, but it also achieved a lower funding cost
June 20
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The lender increased credit enhancement for the subordinate tranches of Springleaf Funding Trust 2017-A to offset lower FICOs and larger balances.
June 19
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The bonds were privately placed with a group of investors led by CIT Group; CohnReznick Capital served as advisor for the transaction
June 19
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The office market in Arlington, Virginia has taken a big hit from cutbacks at the Department of Defense, but Goldman Sachs is making a sizable bet on a comeback.
June 19
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The near-prime accounts have less seasoning than many credit card securitizations by UK banks, at 49.9 months, the weighted average annual percentage rate is 38.12%, according to DBRS.
June 18
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The CFPB's decision to drop a requirement that third parties verify a debt's accuracy before collecting on it is likely to speed the agency's efforts to write rules for all parts of the debt collection market.
June 16
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As of late Thursday, there were two bond offerings backed by prime auto loans (Ford, Honda), three backed by subprime auto loans (Santander, GLS, UACC) and two backed by dealer inventory financing (Ally, Navistar).
June 16
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The online lender, which focuses on high-earning millennials, is offering assurances that it will also serve Americans who make less money. But the company has not convinced critics, who say the plans are inadequate.
June 15
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The REIT obtained a $2.3 billion loan on the 50-story office and retail property from four banks; a $1.3 billion portion serves as collateral for BXP Trust 2017-GM.
June 15
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Freddie Mac has priced its first credit-risk transfer securities backed in part by tax-exempt loans used to finance affordable multifamily rental properties.
June 15
