Finance

The CLO is preparing to raise $494.5 million from the capital markets, with a reinvestment period of 2.9 years, and a a weighted average (WA) recovery assumption of 77.03%.

The company's volume fell behind its wholesale-focused chief competitor's in the third quarter but management foresees potential weakness in the broker channel.

It said just over $1.2 billion of dollar notes had so far been accepted for purchase with six days still remaining for investors to sell back their holdings.

Should Libor become unavailable most CLO loans are already written to fall back to the prime rate. Managers will have to monitor their CLOs' legacy Libor loans.

The percentage of extended-term loans, 80.9%, is near the higher end in recent historical deals, but higher FICO scores are also a bigger portion of the pool.

Wednesday afternoon was full of drama as traders first took hope from the central bank's statement but then slumped following stern comments by Chair Jerome Powell.

Pagaya Structured Products had begun acquiring loans underwritten to tighter underwriting standards—especially among higher-risk borrower segments—in fall 2021.

Credit Suisse Group AG's long-term rating was downgraded by S&P Global Ratings to just one level above junk status, underscoring the bank's challenges after it laid out a radical restructuring plan last week.

Ahead of this week's Federal Open Market Committee meeting, where it is expected to enact another large rate hike, 11 lawmakers sent a letter to the central bank, urging it not to go too far.

Sunnova 2022-C shows borrowers with tighter credit qualifications, and initial OC, as a percentage of pool balance, is lower than Sunnova 2022-B's.

Active bond managers are licking their wounds amid this year's historic fixed-income rout and are banking on a big rebound in 2023 to show their worth.

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

Three of the note classes will issue deferrable notes, where the trust can defer interest payments to the notes under certain circumstances.

As big banks pull back on lending to oil and gas drillers, some US energy companies are relying on a novel kind of bond to get the financing they need.

The closure of its nationwide retail business — which followed the shuttering of its consumer direct business in Q2 — pushed the Florida bank into a $1.4 million loss for the most recent quarter.

Some 2.9% of the pool—comprised of 1,705 loans—was 30 days delinquent, and 68.3% of the loans had experienced one or more delinquencies in the past 24 months.

Stocks slid along with U.S. equity futures as disappointing results from tech giants soured sentiment and marred a tentative recovery in equities. Treasury yields rose.

The consumer lending fintech held about one-third of its loan originations on its balance sheet and fortified its deposit base this quarter.

Delinquencies in the 30-day-plus cohort have not produced higher gross losses, and recoveries in recent static pool vintages are retreating to historical averages.

The economy grew at a solid pace in the third quarter, marking the first advance this year as consumers proved resilient amid widespread inflation and the Fed's hikes.