Last week, timeshare developer Bluegreen Corp. completed pricing its first-ever term ABS in the Rule 144A market, clearing the scandal-laden for infrequent issuers in off-the-run asset classes. ING Financial Markets LLC led the offering, its own first term ABS in the sector since hiring timeshare guru Andrew Yuder last year.

"Distribution was a challenge," said Yuder, a managing director at ING, "Normally deals like this sell from the bottom up, but typical timeshare buyers pulled back a bit," he added. Bluegreen CFO John Chiste concurred, citing "problems in the healthcare sector" negatively impacting new issues in off-the-run assets.

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