Finance

The Long Island Power Authority (LIPA) plans to issue $381.73 million of tax-exempt bonds backed by restructuring charges imposed on its retail electricity customers, according to Moody’s Investors Service.

The mortgage giants Fannie Mae and Freddie Mac are headed for another government bailout soon unless policymakers act, their regulator warned Thursday.

The California Supreme Court on Thursday ruled that borrowers may challenge a wrongful foreclosure on the grounds that the assignment of the deed of trust was invalid.

Kroll Bond Rating Agency placed the ratings of $67.3 million of commercial mortgage bonds from three transactions under review for a possible downgrade due to their exposure to buildings with tenants in North Dakota’s oil industry.

Toyota Motor Credit is prepping a $1.25 billion offering of securities backed by prime auto loans.

Deutsche Bank is securitizing a portion of a loan used to purchase an office building on Manhattan’s Westside, according to rating agency reports.

Crestline Denali Capital is preparing its first collateralized loan obligation offering since it was formed by the merger of two long-time CLO managers last fall.

Morgan Stanley’s first offering of commercial mortgage bonds of the year offers unusually concentrated exposure to a few large properties.

The Puerto Rico House of Representatives narrowly passed an energy sector reform bill, in another step toward adoption of a negotiated debt restructuring deal for the island's electric utility.

The burgeoning industry has been hoping the Supreme Court will overturn a problematic lower-court ruling, but the unexpected passing of a conservative stalwart makes that outcome less likely.

The Federal Housing Finance Agency's decision to exclude captive insurance companies from Federal Home Loan Bank membership makes the FHLB system like a private country club.

JP Morgan and Barclays are marketing $1 billion of commercial mortgage bonds backed by a pool of highly leveraged loans that is highly concentrated in a few large properties in New York City.

GM Financial’s first auto lease securitization of 2016 is a $1 billion transaction that tilts toward higher average customer credit scores and more shorter-term contracts compared to previous GM lease ABS issues.

American International Group is expanding bets on property lending and safe fixed-income securities after hedge-fund investments soured.

Life insurance companies are an untapped source of potential new Federal Home Loan Bank members, according to analysts at Fitch Ratings.

The second European collateralized loan obligation of the year is the first ever by U.S. money manager BlackRock.

NewStar Financial is releasing its first CLO since September 2015 with a $350 million portfolio of loans it has originated for small to medium-sized companies.

The notes are backed by Honda’s typically strong collateral in prime loans with high-quality credit borrowers (average FICO of 761) and lengthy seasoning (13.61 months), and supported by a hard credit enhancement of 2.75%. But the new securitization continues a recent trend in Honda ABS issuance that includes more long-term loans in excess of 60 months.

Flagship Credit Acceptance and Tidewater Finance Co. are marketing a combined $602 million of securities backed by subprime auto loans, according to rating agency reports.