Finance

The €300 million Taurus 2018-1 also finances Italian retail assets that the Partners Group, based in Switzerland, purchased from the Blackstone Group in February.

Hunton Andrews Kurth LLP (formerly Hunton & Williams and Andrews Kurth Kenyon) has named Robert A. Davis Jr. as special counsel in its tax and ERISA practice.

Borrowers can get better rates elsewhere, so they're repaying ahead of schedule, leaving banks in the lurch. The steps lenders would have to take to keep the business could be prohibitively expensive.

The REIT obtained a $782.7 million mortgage from three banks; proceeds, along with $202 million of mezz loans and $33 million of cash, will be used to repay existing debt.

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs.

A consortium including GPP and TIAA has obtained a $500 million mortgage on a 672,581- square-foot portion of the 2.7-million-square foot Ala Moana Center in Honolulu.

RAC King (d/b/a American Car Center) has expanded rapidly since being acquired in a 2016 leveraged buyout; now it's bundling most of its portfolio into collateral for bonds.

The $826.6 million transaction, GPMT 2018-1, represents about two-fifths of the $2.4 billion portfolio of the REIT, which was spun out of Two Harbors Investment last year.

The seventh-largest loan (3.9% of the pool) is secured by 181 Fremont Street in San Francisco, has a credit opinion of BBB, reducing overall leverage in the $766 million conduit.

Angel Oak Commercial Lending provide both short- and long-term financing for projects in multifamily, industrial, mixed use, retail, office, self-storage and other sectors.

The real estate investment trust is issuing $450 million of five-year notes backed by rights to excess servicing strips of Fannie Mae loans.

The Tennessee community bank garnered a triple-A from two credit rating agencies for its inaugural securitization this month of loans refinancing the debt of borrowers with advanced degrees and high-paying jobs.

The $185 million transaction features a higher exposure to borrowers entering bankruptcy than the sponsor's 2016 deal; it's also more seasoned, since it recycles 2014 collateral.

The 860 loans backing its latest transaction, the $258.4 million Verus Securitization Trust, 2018-INV1, are all "business purpose investor loans,” according to S&P.

A large portion of the collateral for the $1.06 billion IH-2018-SFR1 is being rolled over from two transactions originally issued in 2015.

After the second-busiest quarter for primary European CLO issuance to start 2018, a two-week April lull in the market was ended with deal pricings by Intermediate Capital and Investcorp.

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

Sixty-four consumer groups are speaking out against a Senate measure, expected to be voted on this week, that would overturn the Consumer Financial Protection Bureau's 2013 regulation on discriminatory pricing by auto lenders.

Jay Huang, a longtime Citigroup veteran who joined in January, is developing a high-tech trading-desk operation to enhance the company's portfolio of CLO investments.

HELOCs make up just 2.9% of the $281 million pool of collateral; 81.8% of the HELOC borrowers are currently ineligible to make draws; another 18.2% are permanently frozen.