Esoteric

Both offerings are backed primarily by leases on agricultural equipment, but Kubotah's has a much higher percentage of leases on new equipment.

Property Assessed Clean Energy loans can no longer be offered in unincorporated areas of Kern County, Calif. The controversial loans, meant to promote energy efficiency, began in California and are now offered in a number of states.

Moody’s expects cumulative net losses of 0.55% of the collateral, while Fitch takes a more conservative view; it expects net losses to reach 1% due to a deterioration in the construction equipment sector.

The collateral for the deal is heavily concentrated in the top three lessees, Quatar Airways, American Airlines, and Asiana; the deal permits the three to account for up to 65% of the portfolio.

It's the sponsors fourth securitization, and includes 33,972 contracts to small and medium-sized companies as well as to government clients.

Investors had better hope it does; the spectrum rights backing the notes would be less valuable to a combined Sprint and T-Mobile, decreasing recovery in the event of default.

The sandwich restaurant chain will use proceeds so repay debt taken on when it was acquired by Roark Capital last year, incliuding a term loan facility.

The bonds were privately placed with a group of investors led by CIT Group; CohnReznick Capital served as advisor for the transaction

The move follows mounting criticism that many homeowners using property assessments to finance energy efficiency upgrades can neither understand, nor afford, the terms of deals.

Welk Resort Group is coming to market after a two-year hiatus; its previous securitization has yet to experience losses, but only because the sponsor is repurchasing defaulted loans from the trust.