Finance

While the overall rate fell in October, S&P noted a sharp rise in the proportion of loans overdue 60 days as many roll out of COVID-19 forbearance.

Private equity managers and their investors, who were concerned about progressive plans to increase taxes and regulation on their industry, are relieved the expected “blue wave” scenario that would have handed Democrats control of the presidency and both chambers of Congress now looks unlikely.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

The firm, based in the Portland, Ore. area, will market $123.7 million in notes secured by mission-critical equipment such as MRI machines it finances for hospitals and medical offices.

The deal, backed by loans and leases on 55 corporate jets, is the first transaction to price since the coronavirus outbreak cratered the global air travel industry.

Rescuing malls will be unusually complicated because the properties have byzantine webs of financing that have only grown more elaborate with time.

If days go by without a clear result, the uncertainty could lead to market volatility, put off talks for a stimulus plan and complicate bankers' planning for a potentially new regulatory environment.

Loop Capital Markets was lead underwriter and joint bookrunner on an upsized $1.2 billion deal that serves as the first asset-backed market transaction to feature a minority-owned firm as a lead.

A global shortage of yield-bearing assets for investors seeking to generate income is boosting the popularity of funds that back lawsuits in return for a slice of the proceeds if they win.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 23-29

Virani was most recently head of business development for private debt for the Americas and Asia at Partners Group

The origination boom generated another profit for the company in the third quarter, when also it obtained a novel source of liquidity to support its servicing operations.

How we resolve millions of delinquent mortgages due to COVID is the only question that matters.

Four tranches of AAA-rated notes in the $342.2 million JPMorgan Mortgage Trust 2020-8 may utilize a term-SOFR rate should the benchmark improve on the weighted-average coupon of the deal.

Lenders pushed back against the notion that city dwellers' pandemic-driven flight to suburbia would hurt them. They say fewer landlords have sought deferrals as vacancy rates remain low and rent collections have stabilized.

Brookfield will securitize part of a $255 million loan that was applied to its purchase of three high-end hotels in Atlanta, Washington, D.C., and San Diego.

The lease/purchase home operator is securitizing a loan with higher debt-service coverage that most prior MBS issues from its trust. It also is providing a geographically diverse mix of homes that make the deal less vulnerable to isolated outbreak hotspots.

Automotive services chain operator Driven Brands is pursuing its next whole-business securitization, despite a recent sales decline among its franchise stores due to slowing economic conditions related to the pandemic.

Property debt funds, including at Blackstone Group Inc., raised $14.1 billion from April through September, compared with $15.7 billion a year earlier, according to research firm Preqin Ltd. Yet the expected flood of deals has so far been just a trickle.