Paul Capital Partners recently closed a $228.9 million of asset-backed notes via Royalty Securitization Trust I, the cmpany announced. The notes are backed by a portfolio of healthcare royalty and revenue interests in 23 biopharmaceutical products, medical devices and diagnostics selected from 13 of the 19 investments made by Paul Royalty Fund I and were rated 'Aaa' by Moody's Investors Service and 'AAA' by Standard and Poor's respectively, based primarily on a Ambac wrap. Bear, Stearns and UBS acted as placement agents for the issuance of the notes, which were placed with conduits administered by IXIS Capital Markets and Harris Nesbitt.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
11m ago -
Bluegreen Vacation originated the loans and Fitch expressed confidence in its record of good performance as servicer.
April 23 -
Lendbuzz sells the notes as it juggles mixed performance results from 2023. Originations and revenues saw huge jumps, but so did operating expenses.
April 23 -
Institutions and their investors are facing pressure from climate activists, cautiously awaiting interest rate cuts and adjusting to new Federal Reserve and FDIC policies.
April 23 -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
Price guidance was not available on the series 2024-1, the database notes that the series 2024-2 class A notes are expected to price between 63 and 65 basis points over the three-month interpolated yield curve.
April 22