Esoteric

The shipping container lease company is marketing $350 million of notes backed by its largest-ever portfolio of dry bulk container lease receivables.

The first-time $780.8 million notes offering from Sky is primarily backed by leases to international emerging-market airlines, but the passenger jets in the pool are relatively new with an average fleet age of only 3.4 years.

Belgium-based diamantaire Diarough is offering $150 million in notes backed primarily by its inventory of rough and polished diamonds, according to a presale report from Kroll Bond Rating Agency.

Borrowers have higher FICOs than the prior transactions and fewer of then live outside the U.S. and Canada; however the loans are also less seasoned.

The transaction, PFS Financing Corp. 2017-B, consists of a $282 million senior tranche provisionally rated triple-A, and an $18 million unrated subordinate tranche. Both tranches have legal, final maturities in July of 2022.

The 46th overall securitization of court-ordered, term structured-settlement receivables is the company's second deal for 2017.

It's the sponsor's first securitization to be rated by Morningstar; DBRS and Kroll Bond Rating Agency are still capping their ratings of Property Assessed Clean Energy bonds at double-A.

Chesapeak Funding II 2017-3 II is only the second transaction Element has launched since merging its fleet securitization platforms earlier this year.

Structural features, not present in the sponsor's previous securitization, completed in 2012, allowed it to obtain a credit rating for the the senior and subordinate tranches.

U.S. District Judge André Birotte has dismissed all federal claims against Renovate America and its government bond-issuing partners in three lawsuits that had sought class-action status.