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Steady cash flows are attracting new capital to music royalty investments, including securitization, as issuers pursue deals with a broader range of artists.
March 13
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When the deal closes the indenture will be amended to allow it to issue liquidity funding notes, which will serve as a liquidity backstop to fund shortfalls in the liquidity reserve account.
March 12
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Borrowers had a WA FICO of 742, as new partnerships with equipment manufacturers, primarily marine craft and RVs, contributed higher-quality obligors to the pool.
March 6
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The current series, STRE 2026-1, is expected to have a prefunded pool balance that is 31.1% of the aggregate pool balance, higher than the 20% balance on the STRE 2025-1.
March 5
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The global Purpose Brands umbrella includes Anytime Fitness, Orangetheory Fitness, Waxing the City waxing studios, and Bar Method, low-impact studio fitness.
March 4
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Letters of credit sized to cover interest payments for six months, plus a cushion, help provide credit support to the notes.
March 4
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The deal benefits from three accounts–a Funding, Expense Reserve and Interest Reserve. The Funding Account will fund draws and purchase additional loans.
March 3
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The latest Fidium issuance has an implied 170% haircut, and the debt multiple, relative to its net cash flow on the rated classes, is 10.2x.
March 2
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The investment managers new deal launches into a healthy aircraft market.
February 27
