Alterna Tax Asset Group plans to offer $67.3 million of securities backed by property tax lien certificates from municipalities within the states of Arizona, Florida, Illinois, Maryland, Montana, New Jersey, New York and South Carolina, according to Kroll Bond Ratings Agency.
The issuer's second-ever securitization, dubbed Alterna Funding II 2015-1, will offer $64 million of class A bonds, rated AAA’ and $3.2 million of A’ rated, class B notes. The notes are due February 2024. Alterna issued its inaugural securitization. Alterna Funding I, in July 2014.