Esoteric

Deals, trends and research in structured finance and asset-backed securities for the week of March 12-18

The shortage has driven activity in the leasing market, reflected in more than $10 billion in lease-backed securities providing funds for new- and used container acquisitions by major shipping firms.

Worried initially that marketplace lenders might falter at the first stage of a crisis, the sector has weathered the COVID-19 storm and now projects to match 2019's record securitization deal volume.

The transaction has a high proportion of operating lease contracts, making up 91.2% of the pool's asset value.

DataBank, sponsored by an affiliate of Colony Capital, is pooling ownership and leasehold stakes in 15 data centers in six cities, including the Salt Lake City market that is in high demand with West Coast companies diversifying and expanding data-center operations.

The eight-year-old finance company closed on its fourth overall securitization, in what was its largest ABS bond issuance to date.

The ratings agency says the pool of prime motorcycle loans is slightly weaker than the lender's previous securitization, plus uncertainties remain over how the pandemic might still impact riders' monthly payment performance.

The new transaction priced inside of the coupons Textainer achieved in its prior 2020 container-lease securitization, as investors continue to clamor for the lengthier terms of the asset class' bonds.

The startup firm, backed by hedge fund capital, is pooling more than half of its managed railcar portfolio for the single-A rated transaction.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.15-21