Europe

Carlyle Aviation Capital's AASET 2016-1 and ACG-affiliated Merlin 2016-1 each have a single aircraft on lease to Small Planet, according to Deutsche Bank Securities.

The transaction has a senior-note tranche with a double-A rating from DBRs, and is being arranged by Banco Santander.

BSREP International, an entity controlled by Brookfield, obtained a £367.5 million mortgage and £91.9 million of mezzanine debt on CityPoint from Morgan Stanley.

The transaction, Quarzo S.r.l. – Series 2018, is backed by 104,640 accounts with an average outstanding balance of €8,600 and an average interest rate of 9.1%. The loans have original average terms of 61.9 months, with 4.8 months of seasoning.

NIBC's €476.2 million transaction has comparable credit quality to recent deals in the Netherlands; the collateral has a weighted average LTV ratio of under 80% and weighted average seasoning of four years.

The 2018-1 series from Tesco's Delamare master trust will issue de-linked notes backed by £3.4B in receivables.

The €411 million deal puts it in the small club of UK managers that have completed three or more transactions in 2018.

The London-based manager is including two classes of fixed-rate notes, including a rare triple-A rated nonvariable-rate tranche, in its €412 million Contego VI DAC portfolio.

Turbo Finance 8 is a £375.5M static transaction that includes both hire purchase loan contracts and personal contract purchase, lease-like arrangements.

The rating agency feels that “late-cycle credit behavior” is allowing less established issuers to rely on the securitization market more heavily for funding.