Esoteric

Data4's steps to raise funding comes after Britain's Vantage Data Centers last month completed the first-ever asset-backed securitization deal for data centers in Europe.

This is Stream Innovations Inc.'s inaugural 144a securitization, which has ratings of A-, BBB- and BB- to the A, B and C notes, partially based on respective credit enhancement levels of 20.50%, 14.45% and 8.50% respectively.

Data center and fiber investments are growing for a host of reasons, including employees working from home more since the pandemic.

Slated to close on June 28 with a Dec. 15, 2053 legal final maturity, the notes get credit enhancement from overcollateralization, a liquidity reserve account and excess cash flow.

In early June, Carlyle priced a more than $400 million deal — the investment firm's first debt sale from its historically active aviation platform since June 2022. Carlyle's return bodes well for aviation companies.

Some buyers in the JPMorgan deal — and in multiple other SRT trades — borrowed money from other banks to help finance their stakes and inflate returns, people familiar with the matter say.

Aira has secured €200 million ($217 million) in commitments from the European Union's biggest bank. The money will go toward installing heat pumps in thousands of homes across Germany.

This is the latest in a series of whole business securitizations issued by Planet Fitness. In January 2022, it sold a $975 million deal, on which Guggenheim was also sole structuring advisor and bookrunner.

Urschel has covered complex esoteric asset-backed securities such as whole business, digital infrastructure and energy asset securitization. Chambers USA ranks Urschel in band 1 for whole business securitizations group.

The portfolio consists of about 75.8% PPA agreements and 24% lease agreements, when measured by customer contracts with monthly payments