Lehman Brothers ABS research head David Heike has taken a new role within the firm as chief U.S. credit strategist covering unsecured debt, CDOs and credit derivatives. The ABS research team has been merged with the MBS research team, headed by Srinivas Modukuri. Vice President David Covey joins the ABS research team, working alongside Michael Koss, Dan Mingelgrin, Gaetan Ciampini and Brian Zola.
ADMT 2024-NQM2 will repay senior position investors on a pro-rata basis, while the mezzanine and subordinate notes will be repaid sequentially.
That the underlying contract holders prioritize using their smartphones and other mobile devices suggests that they are likely to prioritize payments related to those products.
Should the all-stock transaction close as planned later this year, Wintrust Financial in the Chicago area would gain about $2.7 billion of assets.
Chris Hentemann, whose fund manages $6.2 billion in assets, seeks out B-piece opportunities and foresees banks executing more bulk loan sales and credit-risk transfers.
The current levels of credit enhancement are a reduction from levels of 58.0%, 48.7%, 35.9%, 22.5% and 17% on the classes A, B, C, D and E on the BLAST 2024-1 deal.
