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Time Investment Company, a first-time issuer, offers loans that mostly finance home water treatment systems, and its customers approach prime quality.
February 22 -
Kobalt's notes benefit from an overcollateralization level of 35%, and a debt service reserve account initially sized to cover six months of fees and interest on the notes.
February 21 -
Most borrowers are small- and medium-sized companies that have a lot of incentive to service the debt from loans on property and casualty policies.
February 1 -
Credit strengths include a relatively fast amortization period, which can reduce exposure to loss risks, plus a collateral pool composed of frequently used, affordable smart phones.
February 1 -
Greater market acceptance of sophisticated models and attractive pricing prompted investors to seek more of the uncorrelated risk.
January 25 -
The underlying leases have an average contract balance of $18,129. The top borrower accounts for 0.8% of the pool balance, while the top 10 borrowers represent 4.2%.
January 24 -
The A1 and a2 notes receive interest on a pro rata basis, while, the A1 notes receive ultimate principal before the A2 notes, unless certain conditions are met.
January 12 -
The synthetic securitization leaves the assets on Deutsche Bank's portfolio—the originator and arranger—making the investor syndicate a critical risk counterparty.
January 4 -
The securitization charge is starting from a low point, which represents about 1.9% of the total monthly electricity bill, while the ratepayer base is diverse and economically stable.
November 29 -
All of the class A notes have total hard credit enhancement levels of 22.35%, and notes have legal final maturity dates ranging from Nov. 15, 2024 through Dec. 15, 2032.
November 28