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Each Small Business Administration 7(a) loan collateralizing the notes are secured by mostly motel, hotel and gasoline and convenience store commercial real estate (CRE) properties.
June 24
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The A-1-V notes are not expected to be drawn at close and will have to observe certain leverage and debt service coverage ratio (DSCR) conditions.
June 23
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The transaction structure includes an interest reserve account on the senior notes, tranche 2026-A1 VFN.
June 12
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There is an optional redemption feature, which allows certificate holders to redeem the notes on any day on or after the fifth business day before the monthly payment date in July 2028.
June 2
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The notes are expandable, allowing the issuer might increase the size of the current notes, up to a maximum of $500 million, if the new debt meets certain conditions.
May 28 -
Scooter's Coffee brand sells beverages through a network of 910 locations across 32 states, virtually all of which are franchises (98%), and sells coffee through various formats, including coffeehouses or endcaps with drive-thrus and kiosks.
May 27
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The deal has a two-year revolving period, scheduled to end in June 2028, when collections from the asset pool can be used to purchase new economic participations.
May 20
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Three tranches of notes will be issued to investors, and the A2 tranche will issue the bulk of the debt, $613.7 million. Also, the notes have an anticipated repayment date of June 2031.
May 19
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The cumulative advance rate on the notes include range from 68.5% and 87.7% on the A1 notes and A2 and A notes, respectively.
May 15
