Glen Fest

Loan issuers in the hotel/leisure, oil and gas, retail and business equipment/services industries – which make up nearly a quarter of the S&P/LSTA Leveraged Loan Index – are expected to lead the default tally over the next 12 months, according to a report from S&P.

Loop Capital Markets was lead underwriter and joint bookrunner on an upsized $1.2 billion deal that serves as the first asset-backed market transaction to feature a minority-owned firm as a lead.

Annualized returns have now exceeded double digits for the 10th straight year, despite early 2020 volatility related to the coronavirus pandemic.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 23-29

Virani was most recently head of business development for private debt for the Americas and Asia at Partners Group

Four tranches of AAA-rated notes in the $342.2 million JPMorgan Mortgage Trust 2020-8 may utilize a term-SOFR rate should the benchmark improve on the weighted-average coupon of the deal.

Brookfield will securitize part of a $255 million loan that was applied to its purchase of three high-end hotels in Atlanta, Washington, D.C., and San Diego.

The lease/purchase home operator is securitizing a loan with higher debt-service coverage that most prior MBS issues from its trust. It also is providing a geographically diverse mix of homes that make the deal less vulnerable to isolated outbreak hotspots.

Automotive services chain operator Driven Brands is pursuing its next whole-business securitization, despite a recent sales decline among its franchise stores due to slowing economic conditions related to the pandemic.

The company's CEO is confident that its investment portfolio is "well positioned", particularly with the mortgage servicing rights holdings of subsidiary NewRez.