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The whole business securitization will issue notes through four classes of A, B and C notes, and uses a master trust structure, so it can issue additional classes.
June 2 -
The notes get credit enhancement from overcollateralization and a reserve representing 4.75% and 0.25% of the pool balance, respectively.
June 2 -
The transaction's pool of 365 fixed-rate mortgages, all first lien, breaks down to mostly non-agency loans (61.4%). The rest, 38.6%, are agency eligible.
May 30 -
Citigroup Inc. is structuring the so-called collateralized fund obligation, which will include both debt and equity portions.
May 30 -
Most of the contracts in Point Securitization Trust, 1,750 (81.64%), are second-lien as of the cut-off date.
May 29 -
The strategy, which focuses on non-bank lending to sectors such as residential mortgages, credit cards and auto loans, has been a key plank of the bond giant's push into private lending.
May 29 -
Several features, including a couple of cash trapping mechanisms and a rapid amortization feature, help maintain cashflow to the notes.
May 28 -
The initiative aims to channel the bloc's financial firepower more efficiently and spur growth by funding key industries including the defense sector.
May 28 -
The deal priced at 335 over, beating expectations for the transaction to price at 350 over, due to bond market volatility.
May 28 -
Bill Pulte and the government-sponsored enterprise's chief executive will be working with a firm that analyzes big data and utilizes artificial intelligence.
May 28