Finance

Stabilization in the leveraged loan and high yield bond markets has led to an opening for deals as banks try to reduce debt on their balance sheets before the holidays.

Should Exeter Finance fail to uphold its obligations as servicer, then Citibank will step in as the deal's backup servicer.

However, a tiered pricing system will limit an inflation-driven increase to under 10% for a small group of originators.

After its foray into entity, framework and instrument ESG ratings, Fitch will offer ratings on a range of structured notes including solar ABS, RMBS and CMBS. 

Corporate borrowers will consider tapping bond and loan markets in the coming week as lending costs drop and investors snap up debt ahead of 2022's close.

Kapitus will issue expandable term notes, where at any time during the revolving period it has the ability to issue additional notes, up to $500 million.

US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market.

The uptick in cash balances might indicate the challenges issuers are facing originating new loans for reinvestment in commercial real estate CLOs.

Nonbanks will probably see the least change, while securitization lenders, depositories and REITs are likely to experience the most, an Urban Land Institute survey suggests.

There's no convincing evidence that central banks' purchases of trillions of dollars of bonds and other financial assets helped any economy.

Over time, the receivables that have FICO scores greater than 720 have continued to rise steadily, while receivables with scores of less than 660 have declined.

Apollo Global Management Inc. raised its first long-only fund to make investments in multiple credit asset classes, including some of the $43 billion in buyout loans on bank balance sheets.

Scores will be assigned to all loan pools created since 2010, including future securitizations, and are expected to help investors determine the share of mortgages meeting specific characteristics.

Most of the loans in the pool, 56.4%, are not subject to the Consumer Finance Protection Bureau's (CFPB) Ability to Repay Rule, and virtually all are fixed-rate.

The company burned through $2 billion of cash over the six months ended March 31 by one measure, and some analysts forecast it will be broke by the end of 2023.

The transaction will devote proceeds to cover costs incurred from the February 2021 winter storm's fallout.

North Carolina Republican Patrick McHenry -- in line to lead the House Financial Services Committee -- has called for the Fed to stay focused on controlling inflation.

Up to 27.50% the collateral might be represented by financed units enrolled in the CalCAP program, providing potential coverage for losses on charged off loans.

Apollo Global Management will acquire Sector Financial Inc., which focuses on middle-market direct lending, as part of Credit Suisse Group AG's securitized products group.

MFCCMT 2022-3 includes a 12-month revolving period where no principal payments are made on the notes, except in the event of an early amortization.