Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared in Forbes, Next Avenue, Financial Planning and National Real Estate Investor.
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Griffin was a managing director at J.P.Morgan Securities, where he ran the global primary collateralized loan obligation (CLO) business.
April 11 -
A pool of open-end vehicle fleet lease and loan contracts for cars, trucks and other vehicles provide the revenues to the bonds.
April 11 -
There are four risk events that could stop cash flow into SMB 2024-R1's deal—missing overcollateralization targets, a stymied principal distribution and the deals do not exercise an optional clean-up call.
April 10 -
New originations exceeded last year's tally by 30.5%, despite concerns about how rates might impact consumer financial strength. Auto ABS production revved up overall performance.
April 9 -
Aside from overcollateralization and subordination, the notes get support from a reserve account representing 0.96% of the pool and an incremental reserve account maintain 1.00%.
April 9 -
Series 2024-2 can be upsized to $1.5 billion from the base pool amount, but regardless of the increase, pricing guidance, total credit enhancements and legal final maturities are expected to remain the same.
April 8 -
At the pool level, loans have a weighted average minimum liquid reserve of $5 million, and at the loan level the minimum for liquid reserves is $1 million for sponsors without a FICO score.
April 5 -
BJETS 2024-1 has leases and loans on 31 business jets in the collateral pool, 12 from Gulfstream and 11 from Bombardier, the two largest contributors.
April 4 -
Pricing ranges between 20 basis points, over the three-month Interpolated yield curve, on the A1 notes to 400 bps over the class E, at almost par, between 99.98% and 99.99%.
April 4 -
The four classes of notes are expected to price between 115 basis points on the class A notes to 415 bps on the class D, putting them virtually at par.
April 3