The newest deal from the program could be upsized to $1.6 billion from $1.1 billion, with the structure and pool characteristics remaining the same.

The OCCU 2023-1 transaction will come to market as a 144a transaction, with higher levels of credit enhancement from yield supplement overcollateralization, initial hard credit enhancement and excess spread.

Tractors make up the vast majority of the vehicles in the pool, 92.5%, while trailers, trucks and buses account for 4.1%, 2.3% and 1.1%, respectively.

The sale marks the firm's first operating company-level debt sale in about four years.

The deal has a 9.25% discount rate on the yield supplement overcollateralization amount (YSOA), a, liquidity risk mitigation tool, which is significantly higher than the 4.00% from the 2021-1 transaction.

CLO spreads should tighten toward year-end, easing arbitrage challenges. Meanwhile investors will be challenged to calibrate the recovery rate, says Pratik Gupta.

The settlement with an insurer over Countrywide's mortgage-backed securities closes another chapter on what quickly proved to be an ill-advised acquisition for Bank of America. A trial on the case had kicked off last month.

After a decade of multibillion-dollar tech investments by banks, efficiency ratios have begun to improve and headcounts drop, some industry watchers say. Skeptics counter that other reasons are at play and that it's all hard to measure.

High-quality fully amortizing residential mortgages collateralize deal underwritten by Bank of America.

The residential mortgage-backed securities will offer investors a chance at $300 million in notes highly rated virtually throughout the deal.