Finance

FS grew its CLO business and now manages four CLOs totaling $1.4 billion. The manager's risk-averse growth avoids complications that are still unfolding liability management exercises.

This is the inaugural deal from Cherry Technology, formerly known as Mason Finance. Its capital structure includes a 24-month revolving period and a strong contingent of credit enhancements.

All the three senior class A notes benefit from 60.95% in total initial hard credit enhancement. A reserve fund representing 1.00% of the total balance helps provide the credit enhancement to the notes.

State housing finance agencies had a resurgent fiscal 2023 and the recent fed funds rate reduction could have a mixed impact on them, Fitch Ratings said.

For one, the deal is expected to include only Japanese foreign obligors—historically strong and comparable to U.S. obligors—from the pool of 9,333 loans.

This is ECMC's first securitization of a pool of rehabilitated loans since 2021.

Goldman Sachs Group Inc.'s Luke Gillam and Bank of America Corp.'s Murad Khaled, set to join AlbaCore Capital and Apollo Global Management, are the latest in a growing list of top bankers to make the leap.

Five-year notes were the worst performer among Treasury benchmarks, with yields rising by more than 5 basis points, though all rose by at least 4 basis points.

After a three-year absence, the deal will issue notes repaid from a pool of leases on 22 refinanced assets. Almost all the assets are narrowbody aircraft, representing 87.9% of the pool by value. One widebody accounts for 12.1% of the asset value.

The current pool of borrowers with FICO scores below 700 represents 14.9% of the pool, compared with 13.5% of the 2023-B transaction, according to one analysis.