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The proceeds will go toward refinancing prior debt, repaying a construction loan for new convention center facilities, and paying closing costs, deal documents show.

Aggregator counters the risk of loans' low starting rate with a strong borrower profile.

About $2 billion changes hands daily for the sale of new motor vehicles in the U.S., making auto dealers a prime use case for faster payments. So why aren't more using it?

The new deal will increase the sponsor's 2024 issuance to more than $3 billion.

Annualized inflation increased to 2.7% in November from 2.6% the previous month, providing further evidence that the economy remains strong despite restrictive monetary policy.

The second-lien loans face low recovery post-default, especially if home prices drop.

Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.

Franklin Templeton Investments Chief Executive Officer Jenny Johnson said she's concerned that some investment- and non-investment-grade private credit assets are trading at the same spreads as traditional fixed-income investments like corporate bonds.

But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.

Public-finance repair should be prioritized before alarm among bond investors takes hold, the Bank for International Settlements said.