Esoteric

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

The bond offering is already more than two times oversubscribed, according to people familiar. Demand for available bonds that were not already committed is around four times or more.

Marlette Funding partnered with Cross River Bank to originate the Prime loans, which account for 86.3% of the pool.

While the total credit enhancement package is higher to overcollateralization, which represents 1.00% of the pool balance, was lower than the 3.00% seen on the HGVT 2023-1 deal.

The owner of brands such as Vitamin Shoppe and American Freight told investors revenue showed a double-digit drop from a year earlier. Franchise Group is planning to cut debt and exploring securitization within its Pet Supplies Plus business, the people said.