Esoteric

Most of the waterfall will repay fees and interest, and any deficit or default amounts, until an early amortization event occurs.

The private asset-backed finance capital from Oaktree is complimentary to Temple View's public ABS program.

The deal will repay principal on a monthly basis, with senior expenses and fees first, unpaid interest payments on the class A and class B notes, then amounts to satisfy the coverage tests or to fund a principal reserve, if any.

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.

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.

The transaction structure includes an interest reserve account on the senior notes, tranche 2026-A1 VFN.

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.

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.

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.