Glen Fest

The third offering of bonds secured by non-guaranteed private student loans has a senior-note weighted average life of just 3.44 years, compared to over five years each for two prior Navient SLABS deals this year.

Other portions of the casino-property loan have been previously assigned to nine other commercial-mortgage securitizations.

The WA FICO of 710 contrasts with the range of 554 to 635 in recent Carvana securitizations centered on subprime borrowers.

The move would alleviate near-term risks and potential disruption with legacy securitization and structured-finance portfolios should all key Libor rates cease publication after 2021, as originally planned.

The proceeds from funds drawn from the notes will be used to replenish the rental car firm's 2021 fleet as it winds through bankruptcy court.

Citigroup's realty arm is sponsoring a $1.06 billion RMBS of highly seasoned mortgage loans with troubled histories. All of the loans were acquired via a Fannie whole-loan auction.

The insurance company has previously sponsored three securitizations of reperforming/nonperforming loans since 2017.

The issuer included a record volume of loans in the collateral pool for a solar securitization.

The debut issue from its initial master-trust offering will repay a bridge loan taken out by Roark Capital for its October 2020 acquisition the commercial and residential restoration and cleaning franchisor.

The $175.9 million securitization of legacy trust-preferred securities issued by community banks prior to 2007 carries a double-A rating from Moody's.

Auto-loan securitizations from AmeriCredit and Santander add to a briskly flowing 2020 subprime-deal pipeline, while Ford and JPMorgan are marketing notes backed by prime-loan receivables.

The casual-dining chain showed improved 3Q performance numbers as it adapted to COVID-19 restrictions with expanded pickup-and-delivery service options.

The fund exceeded its $1 billion target in five months of fundraising despite the lack of in-person meetings, and attracted 55% of the commitments from new investors.

Brookfield's Capital Automotive is marketing a new series of bonds secured by revenues from property sale-leaseback agreements with large auto dealer groups.

The deal is among the largest Freddie Mac has on its fourth-quarter K-Deal platform issuance calendar.

While the overall rate fell in October, S&P noted a sharp rise in the proportion of loans overdue 60 days as many roll out of COVID-19 forbearance.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 30-Nov. 5

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

The firm, based in the Portland, Ore. area, will market $123.7 million in notes secured by mission-critical equipment such as MRI machines it finances for hospitals and medical offices.

The deal, backed by loans and leases on 55 corporate jets, is the first transaction to price since the coronavirus outbreak cratered the global air travel industry.