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Triumph Capital Advisors doubled its business with a risk-retention driven acquisition of Doral Bank's CLO assets in 2015; the same regs spurred its spin-off as a separately capitalized vehicle to Pine Brook under CEO Gibran Mahmud.
July 10
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The two firms jointly obtained three separate loans totaling $706.7 million from Citigroup and Morgan Stanley on 52 retail properites with a combined 7 million square feet.
July 9
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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.
July 9
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The Consumer Financial Protection Bureau's final rule to formalize guidance on a number of TILA-RESPA Integrated Disclosures compliance points omits an originally proposed fix for the so-called black hole that's created when a mortgage closing is delayed.
July 7
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The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.
July 7
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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.
July 6
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Morreale was previously a managing director and associate general counsel in the mortgage and legal group at Goldman Sachs, where he provided legal counsel for businesses across a range of asset-backed securities
July 6
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AutoGravity of Irvine, Calif., has received $30 million in equity financing from VW Credit, according to a source familiar with the matter.
July 6
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The German automaker was compelled to shift funding to asset-backeds in the wak of an emissions cheating scandal; it has now resumed issuing unsecured debt
July 6
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The £310.3 million (US$401.26 million transaction, Twin Bridges 2017-1, is backed by 965 prime mortgages underwritten to UK landlords by Paratus AMC Ltd., formerly known as GMAC-RFC.
July 6
