Glen Fest

“We’re comforted by the fact our position in the market is so strong, and our ability to gain [loan] allocation is quite important," co-CEO Kewsong Lee says.

The €300 million Taurus 2018-1 also finances Italian retail assets that the Partners Group, based in Switzerland, purchased from the Blackstone Group in February.

The former Kirkland & Ellis partner will remain in Chicago, where he has performed work for clients in automotive finance, technology, banking and marketplace lending.

The ICE Benchmark Administration is changing how banks submit interbank interest-rate quotes used to derive daily Libor rates.

Nineteen of the aircraft collateralizing MAPS 2018-1 were previously securitized in a 2013 Merx-sponsored deal dubbed AABS Ltd.

All four tranches mature in five years, matching with revolving period for the rotation of new autos and trucks in the rental fleets.

The notes are being issued from a a master trust collateralized by over $1.4 billion in corporate leases originated and serviced by Donlen Corp., which Hertz acquired in 2011.

Nearly four in five expect spreads to widen this summer, which is not good news for spec-grade U.S. companies that binged on borrowing levels over the last two years.

After the second-busiest quarter for primary European CLO issuance to start 2018, a two-week April lull in the market was ended with deal pricings by Intermediate Capital and Investcorp.

Jay Huang, a longtime Citigroup veteran who joined in January, is developing a high-tech trading-desk operation to enhance the company's portfolio of CLO investments.

Higher LTVs and fewer low-risk, new-car loans trumped the recent decline in managed-portfolio delinquencies and improved ABS performance since 2015.

The total volume of CLO refinancings for the month to date has reachd $11.3 billion, as managers continue to take advantage of the repeal of skin-in-the-game rules for this asset class.

The sponsor is pooling what a majority of customers are buying these days, but future gas-price shocks could depressed used-vehicle prices on the lower MPG models.

With no more concerns about triggering risk retention on its large pile of older deals, Blackstone is dusting off CLO portfolios that have long been eligible for a refi makeover.

Moody's, S&P and DBRS take divergent views of riskiness of €500 Driver Italia One; key concerns are the concentration of loans with balloon payments and lack of recourse to cars being financed.

However the collateral will total at least £370.4 million (US$424.5 million), including a £62.7 million prefunding account; the weighted average coupon of the collateral is 4%.

The high-earning pizza franchisor will use proceeds to pay off existing asset-backed financing and add $323 million for a possible dividend.

The percentage of 84-month loans has been shaved to 37.5% of the pool in SoFi's consumer loan program 2018-2 issuance, down from 45.4% in its prior transaction in January.

The LSTA has declared the era of risk retention for open-market CLOs is over, pending an unlikely U.S. Supreme Court intervention. "We believe we can exhale," the trade group said in a statement.

But GMF's deeper dive into long-term loans for a pool increasingly dominated by pricier trucks and SUVs caused a slight bump in expected ABS credit losses.