Issuance of bonds backed by aircraft leases is booming as airlines turn to lessors to fill gaps in their fast-expanding fleets in response to falling energy prices and rising passenger traffic. They are increasingly booking the older, less fuel-efficient airplanes in lessors fleets, which can now be operated profitably.
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Moodys Investors Service has assigned a provisional Aaa rating to the class of 556.5 million Class A floating rate notes. None have been assigned to the 43.5 million Class B stack.
May 4 -
The early performance of bonds backed by rehabbed residential mortgages is pretty strong, according to Fitch Ratings.
May 4 -
The $828.6 million American Airlines Series 2016-2 trust certificates will be secured by 22 recently or soon-to-be delivered, newly manufactured Airbus and Boeing passenger jets, American reported in a filing with the Securities and Exchange Commission.
May 4
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Prosper Marketplace Inc., one of the largest U.S. online lending platforms, is slashing its workforce 28%, joining rivals in signaling investors arent as eager to fund loans after years of rapid growth.
May 4
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Credit Acceptance Corp. received a subpoena from the Maryland attorney general regarding its repossession and sales policies, the subprime lender disclosed Monday.
May 4 -
Freddie Mac priced its latest offering of notes transferring mortgage credit risk at much narrower spreads than the previous deal, completed in March.
May 4 -
Wells Fargos latest commercial mortgage trust deal is a higher-leverage gambit of riskier debt-service coverage and loan-to-value ratios, driven by additional subordinate financing carried by some of the pools largest borrowers.
May 4 -
One of the biggest challenges in putting new CLO deals together has been the decline in the number of buyers of CLO debt. Justin Plouffe, managing director of U.S. and European CLOs at The Carlyle Group, discusses the means to which managers must adapt to market direction.
May 3
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New Jersey is the latest private student lender to test the securitization market.
May 3 -
Credit Acceptance Corp. is marketing $330 million of notes backed by subprime auto loans.
May 3 -
OnDeck Capital reported a quarterly loss of $12.6 million as revenues fell short of expectations. At the same time, the New York firm sharply reduced its earnings projection for the rest of the year
May 2
