Esoteric

The railcar equipment notes are secured by a portfolio of 5,770 units which are almost all being utilized through full-service leases.

Downgrades applied to deals sponsored by Carlyle Aviation and Avolon Aerospace reflect the continued deterioration of airline credit quality and aircraft values afflicting nearly all issuers, the ratings agency reported.

The issuer included a record volume of loans in the collateral pool for a solar securitization.

The casual-dining chain showed improved 3Q performance numbers as it adapted to COVID-19 restrictions with expanded pickup-and-delivery service options.

The firm, based in the Portland, Ore. area, will market $123.7 million in notes secured by mission-critical equipment such as MRI machines it finances for hospitals and medical offices.

The deal, backed by loans and leases on 55 corporate jets, is the first transaction to price since the coronavirus outbreak cratered the global air travel industry.

Loop Capital Markets was lead underwriter and joint bookrunner on an upsized $1.2 billion deal that serves as the first asset-backed market transaction to feature a minority-owned firm as a lead.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 23-29

Automotive services chain operator Driven Brands is pursuing its next whole-business securitization, despite a recent sales decline among its franchise stores due to slowing economic conditions related to the pandemic.

The deal would take the donut chain private and tie it to franchise chains that also regularly issue whole-business securitizations – including Arby's, Sonic Drive In and Jimmy John's – under the Roark Capital-backed Inspire Brands umbrella.