Glen Fest

Four new repriced portfolios from BlueMountain, CIFC, GoldenTree and HPS each exceeded 10x debt-to-equity ratio, compared to a three-month prior average of 9.16x on S&P rated deals.

Over three-quarters of loans in the €861.3 million transaction are loans in which borrowers are scheduled to repay almost half the principal in its final installment.

It can be a more efficient way to raise regulatory capital than relying solely on equity, but lenders that securitize this debt have struggled to get the market back off the ground.

Nearly 72% of attendees said their institutions were either only going to get involved “at the appropriate time” or “let the market figure out” how to move to a new benchmark.

Fannie Mae and Freddie Mac’s involvement in the single-family rental market may have been short-lived, but it still had a positive effective, according to Beth O’Brien, CEO of CoreVest.

Corevest CEO Beth O'Brien says that Fannie and Freddie's involvement in the single-family rental market both generated buzz and produced standardized documentation.

Auto loan securitization has been in overdrive this year, even if the global tussle over import tariffs is injecting a note of caution.

While banking regulators are currently looking the other way when corporate debt packages exceed 6.0 leverage, that could easily change under a new administration or Congress.

Look for more providers of property assessed clean energy financing for commercial buildings to follow CleanFund and Greenworks Lending into the securitization market next year.

The private-label card issuer has expanded into co-branded Mastercard accounts with several retailers, which have higher payment rates and fewer delinquencies than cards exclusive to partnering store chains.

Net-loss and payment-rate performance for the bank's World Financial Network master trust platform has fallen short of private-label card issuer peers the last two years.

Tetragon Credit Income Partners is considering a move outside its niche CLO equity investment strategy in expanding its portfolio management team.

The Boston-based firm has refinanced two existing deals within the last 10 months, but hasn't printed a new deal since October 2015, well before U.S. risk retention rules took effect.

The deal will be managed through its BDC, which formed a joint venture last December to fund PE-sponsored firms with unitranche corporate loans.

The captive-finance lenders will be the leading issuers of U.S. auto lease-backed securitizations in 2017 at the close of their latest deals launched this week.

The deal, which Fitch did not name in its report, appears to be VCO CLO 2018-1. The agency said the transaction might not even merit a single-A rating, given the high single-sector concentration.

J.P. Morgan Asset Management is not disclosing why it is retiring the $1B Palm Lane Credit Opportunities Fund; the fund was previously being considered for a spinoff.

TCI Capital assigned two CLO deals totaling $1 billion that it was managing for Columbia Management Investment Advisers, after Columbia resigned its subadvisory role.

Moody’s expects losses on Drive Auto Receivables Trust 2018-4 to reach 25% of the original balance over the life of the deal, down from 26% for its prior deal.

About 8.5% of loans backing the $256.2 million transaction were reassigned from a 2015 deal; this boosted the weighted average seasoning to seven months from one month for ACA's prior deal.