In last week's ABS Market roundup, the price guidance for the single-A rated B class of the Susquehanna auto-lease ABS was incorrectly reported as being in the 100 basis point area over one-month Libor. Guidance was actually set in the mid-100 basis point area, therefore the final pricing spread of 145 basis points was actually inside of initial talk.
Steady cash flows are attracting new capital to music royalty investments, including securitization, as issuers pursue deals with a broader range of artists.
FIGRE 2026-HF3 will repay noteholders on a pro rata basis but is subject to a provision that requires the deal to repay noteholders sequentially after a credit event.
Caution around the move is growing as focus has shifted to affordability, and current trading prices make near-term action unlikely, according to Wedbush.
Fitch notes that the pool's collateral quality is consistent with previous transactions. The current deal has a FICO score of 774 and a diverse segment and vehicle mix.
When the deal closes the indenture will be amended to allow it to issue liquidity funding notes, which will serve as a liquidity backstop to fund shortfalls in the liquidity reserve account.
The conflict pushed oil price futures above $100 a barrel for a short time earlier this week, which affected bond investors and the 10-year Treasury yield.
