Finance

The notes offering is the largest among the 21 auto-lease deals HCA has issued since 2011, and the fourth that has topped $1 billion in offered notes.

Fitch and Trepp reported that overall commercial mortgage-backed security delinquencies were down, while the MBA reported a slight increase.

The transaction features a pool of non-qualified mortgages with a higher-than-average delinquency rate driven by COVID-19 relief plans.

The Swiss banking giant is expected to set aside $850 million for litigation costs stemming from a long-running dispute with bond issuer over the sale of mortgage-backed securities.

Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 31-Jan.7

The share of 72-84 month loans is 15.56% in GMF's 2021-1 transaction, up from 12.24% in its prior prime-auto issuance.

The first commercial mortgage securitization is backed by eight recently acquired garden-style apartments in five states.

The largest U.S. shopping center became delinquent on its debt last year after its owner Triple Five Group began skipping mortgage payments, citing hardships from the COVID-19 pandemic.

While the balance of newly delinquent loans fell by 50% from November, the ratings agency warned that many borrowers will likely struggle to bring loans current under ongoing pandemic conditions.

Privatizing Brookfield’s real estate subsidiary is appealing because it has consistently traded at a discount to the underlying value of its assets.

Energy, retail and consumer services companies led a total of 244 filings, according to data compiled by Bloomberg.

Reports indicate distressed owners would rather surrender their hotel or retail properties instead of negotiate workouts on delinquent loans as the pandemic spread carries on.

Bausch, formerly Valeant Pharmaceuticals, has paid down more than $24 billion of the $32 billion in leverage it owed five years ago from a debt-driven acquisition spree — which ended after a drug-pricing scandal.

The Georgia runoffs and resulting balance of power in Congress will help determine which bills on bankers’ wish list gain traction. But regardless, existing coronavirus relief such as the Paycheck Protection Program and a push for more economic aid will remain top of mind for lawmakers and the industry.

The agency cited improving used-car prices that have elevated resale values of off-lease vehicles that drivers are turning back into dealerships.

The buyout industry has about $3 trillion of unrealized value on its books, according to Preqin. And it’s tapping that to land loans for bolt-on deals, to refinance debt or bail out struggling companies in their portfolios.

Industry watchers make their wildest guesses (more or less) about developments in real estate finance that could rock the industry in the upcoming months.

The three-year loan will boost the hotel-centered REIT's dwindling cash reserves battered by the COVID-19 global impact on travel.

About $430 billion in commercial and multifamily debt, more than half of which is held by banks, is maturing in 2021, with fresh capital needed to head off a tsunami of defaults.

Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 18-23