Moody's Investors Service has concluded its ratings review on 31 securitizations of federally guaranteed student loans sponsored by Navient Solutions to account for the slower rate of repayment of the collateral.
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Investcorp is buying the debt management business of 3i Group for £222 million (US$270.6 million, giving the Bahrain-based private equity firm with one of the larger cross-border CLO management operations.
October 25
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JP Morgan is securitizing a portion of a $557 million loan backed by a portfolio of 103 office buildings and flex properties, which have multiple uses, such as office space, manufacturing and warehouse distribution.
October 24 -
A single class of floating-rate Class A notes totaling $896 million is being issued through the Navient Student Loan Trust in the seven-death conducted by Navient this year.
October 24 -
Renewable Funding, a/k/a Renew Financial Group, is structuring its second round of Property Assessed Green Energy (PACE) green bonds this year financing residential renewable energy and energy efficiency projects for California homeowners.
October 24 -
Several banks, including Fifth Third Bancorp and Citizens Financial Group, plan to scale back indirect auto lending, citing increased competition and narrowing spreads. Others are reducing exposure by selling off large chunks of auto loans though they remain committed to auto lending.
October 24
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NorthStar Realty Finance and Latitude Management are marketing a pair of commercial real estate collateralized loan obligations.
October 24 -
The rating agency has changed the way it assesses the risk of combo notes, a hybrid debt and equity instrument, to account for what happens to them when a deal is refinanced. This could result in downgrades on existing combo notes issued by 38 collateralized loan obligations. It could also complicate the way future combo notes are structured.
October 24 -
The Apollo Aviation Securitization Equity Trust 2016-2 is supported by the receivables of 35 aircraft leases to 22 airlines in 20 countries, with an initial portfolio value of $792.2 million which is almost a quarter of the investment management firms $3.1 billion in total aviation assets under management.
October 23 -
You cant pull money out of thin air, but thats what Sprint Corp. appears to be doing by entering into a sale-and-leaseback agreement for a portfolio of licenses granted by the U.S. government
October 21
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Issuance volume of asset-backed securities for the year through October 21, 2016.
October 21 -
Underwriting league tables for asset-backed securities for the year through October 21, 2016.
October 21 -
Earnest is marketing its fourth offering of bonds backed by refinance student loans, according to DBRS.
October 21
