| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Morgan Stanley | 1,579.0 | 1 | 96.8 | 1 |
| Deutsche Bank AG | 17.6 | 2 | 1.1 | 1 |
| Barclays Capital | 17.6 | 2 | 1.1 | 1 |
| Banc of America Securities LLC | 17.6 | 2 | 1.1 | 1 |
| Industry Total | 1,631.8 | - | 100.0 | 2 |
| Source: Thomson Financial | ||||
Raising $508.6 million, and being the first to cross the half-trillion dollar mark, the Point 2026-2 series also drove down funding costs by more than 220 basis points.
The private asset-backed finance capital from Oaktree is complimentary to Temple View's public ABS program.
The super senior and senior support tranches notes will repay investors on a pro rata basis, while the A2 through B3 notes repay investors sequentially.
The deal will repay principal on a monthly basis, with senior expenses and fees first, unpaid interest payments on the class A and class B notes, then amounts to satisfy the coverage tests or to fund a principal reserve, if any.
The investment banking giant has a hefty amount of excess capital, some of which is being used to meet client demand. At the same time, the company is open to opportunities to do bolt-on acquisitions, CEO Ted Pick said.
Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.
