Barclays Capital recently hired Elizabeth Shen as an associate in its Asset Securitization group, where she will focus on analytics and structuring of multiple asset classes for pools acquired in the whole loan market. Shen, who reports to managing director Mike Wade, joins from Deutsche Bank Securities, where she had worked since 2000.
Major League Baseball has closed a $1.5 billion trade receivables securitization facility, aptly named Major League Baseball Trust, consisting of a $1 billion revolving conduit facility and $500 million term securitization. The facility, structured by Fleet Securities, is backed by receivables generated from telecasting and radio broadcast revenues, national and international media contracts, and, to a lesser extent, revenues under licensing and sponsorship contracts, noted a Fitch Ratings rating action. Debt tracker Fitch rated the facility single-A minus.