| 2016 | 2015 | 2014 | |
|---|---|---|---|
| ABS (Public + 144A) | 197,642.3 | 245,559.8 | 276,800.6 |
| ABS (Public + 144A excluding CDOs) | 173,923.5 | 179,610.1 | 194,273.6 |
| ABS (Public Only) | 78,066.4 | 95,012.8 | 114,988.8 |
| ABS (144A Only) | 119,575.9 | 150,547.0 | 161,811.8 |
| Non-Agency MBS | 65,107.5 | 115,346.1 | 106,242.7 |
| Agency MBS | 241,433.5 | 199,777.7 | 198,226.1 |
| CMBS | 92,816.0 | 88,763.6 | 80,830.0 |
| Source: Thomson Reuters | |||
PRET 2026-RPL2 uses a sequential repayment structure, although the notes will not advance any principal and interest from delinquent loans.
An adverse, if unlikely, decision about a novel defense of lenders participating in liability management exercises could upend the leveraged loan market.
Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.
Despite market volatility from the conflict–added to tariff impacts–credit portfolio managers see liquidity as steady, with no significant signs of stress.
The recent uptick in commercial-and-industrial lending is the result of disruption in the private credit sector, one economist argues. Bank analysts say the upheaval in private credit is one factor among many.
The notes are expected to pay coupons including 5.00% on the A6 through A30 tranches of notes, and 6.13% on the B1 through B6 notes.
