Esoteric

The bankers and lawyers who put these deals together have been working hard to broaden their appeal beyond insurance companies, the traditional buyers.

A bill to strengthen consumer protections for Property Assessed Clean Energy financing programs in California was approved by the Senate Monday and is headed to the governor’s desk for his signature.

The parent company of Dunkin' Donuts and Baskin-Robbins will use $733 million of proceeds to repay debt issued in 2015; the remainder will be used for general corporate purposes, including funding a dividend to shareholders.

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.