Despite the headline challenges, Lehman Brothers is making a play in the tobacco settlement legal fee-backed arena, said to be near an inaugural transaction, pending market conditions. According to a source familiar with the developments, because of the fundamental downward ratings shift for the tobacco industry, it will be difficult for a deal to score higher than the triple-B-plus level, capped at the credit perception of the industry by the rating agencies.
-
The deal has a three-month prefunding period, which begins on its expected April 2 closing date, and assets transferred into the pool will be subject to concentration limits.
11h ago -
Regardless of whether a trigger is in place, A-1FCF will always receive principal first until that balance is reduced to zero, and then to A-1LCF until it is fully paid off.
March 19 -
For the second week in a row, the 30-year fixed increased by 11 basis points, Freddie Mac found, a result of reaction to oil price hikes from the Iran conflict.
March 19 -
Federal regulators issued proposals Thursday to implement the final elements of the Basel III accords, adjust the global systemically important bank surcharge and implement standardized approaches for risk-weighted assets. The changes would reduce capital requirements for banks of all sizes affected by the rules.
March 19 -
Slated to close on March 24, the deal is Capteris' second 144A term securitization and has a stressed cumulative net loss rates ranging from 25.14% to 7.75%.
March 18 -
The delay in its shareholder meeting to approve the sale to UWM Holdings could put Two Harbors back in play, but will it get the same price from another buyer?
March 18








