Glen Fest

The new deal is smaller, at $130.1 million, and the collateral is almost entirely of PV systems financed through third-party loan agreements.

Junk-rated firms pay little tax, and so won't benefit much from a lower corporate rate. And this benefit could be offset by a limit on the interest deduction.

The dramatic tightening in loan spreads this year made it difficult for the CLO manager to manage to various performance metrics of its deals, and this required building flexibility into deals being refinanced.

Despite boosting credit enhancement, the sponsor was only able to earn an 'A' from S&P Global Ratings, which cited heightened competition and adverse borrower selection.

The German-based transport finance company is marketing a $722.5 million transaction secured by lease proceeds on a portfolio of 36 mostly older passenger jets.

In its third securitization of cash-out auto loans, OneMain will for the first time include originations from the 1,000 legacy offices acquired from CitiFinancial.

CHT 2017-CSMO will issue six classes of notes in the $1.38 billion transaction, which will refinance a 2016 mortgage securitization and provide funds for renovation.

Kroll expects cumulative net losses on the collateral for American Credit Acceptance 2017-4 to be as high as 29.9%; the senior notes have 66.35% initial credit enhancement.

The bonds, which are backed by royalty payments and franchise fees, are expected to close in January; proceeds will be used in part to refinance a 2015 transaction.

Carlyle Euro CLO 2017-3 is the latest under its new shelf managed by affiliate CELF Advisors, with a AAA coupon of just 75 basis points over three-month Euribor.

Fino 1 is backed by collections on more than €5.34 billion in bad loans originated by the Italian banking giant. Most were issued between 2010-2017.

The €309 million Orbita Funding 2017-1 plc follows a 2016 transaction by the venerable British bank.

The prime consumer loans backing the $330M CLUB Credit Trust 2017-P2 transaction include a greater percentage of higher-FICO borrowers.

The deal will relaunch with a weighted average spread (4.22%) and excess spread (2.86%) well above the three-month industry average for issued U.S. CLOs.

Collateral for the deal, which is structured as a master trust, can reach €30B of loans originated by the bank's building-savings affiliate, its retail operations and its private-bank unit.

The deal could put downward pressure on market lease rates and renewals in wireless tower ABS portfolios serviced by Crown Castle, American Tower, and SBA Communications.

The Spanish bank's German retail lending unit is securitizing a fifth pool of mostly unsecured personal loans from an €83.5 billion portfolio.

The measure assigns the CFPB the task of developing ability-to-pay standards for financing repaid through local tax assessments; it has the support of both the PACE industry as well as mortgage bankers and Realtors.

CBAM Asset Management's $1B CBAM 2017-4 is not its largest deal among the four BSL portfolios it has issued in less than eight months; but the latest transaction is still almost double the average peer CLO deal size of $511 million since the third quarter.

The two prospective pools of loans have nearly identical average FICO scores (769 for the $1 billion pool, 770 for the $1.25 billion) and weight average APR (2.13% and 2.11%, respectively).