Bank of America Insights

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

Demands for new data centers account for the surge in financing, while offering portfolio diversity.

Despite the quality of the pool's underlying loans, the pool has a large proportion of investment properties, 76.7%, which are susceptible to higher default probabilities.

The notes are expected to pay coupons including 5.00% on the A6 through A30 tranches of notes, and 6.13% on the B1 through B6 notes.

The deal saw notable changes from SCLP 2021-1, especially an increase in target and initial overcollateralization.

Highly leveraged software companies facing major credit challenges may turn to using more LMEs to stave off defaults.