Deutsche Bank

MP 2025-1's loan-to-value ratio will not exceed 70% of aggregate appraised value. To maintain this leverage level, the deal will also collect supplemental principal payments.

With borrowing costs near multi-year lows, median equity distributions for the securities reached an annualized rate of 12.1%, the lowest since 2020.

Up to 75% of the class A2 notes pay a coupon based on the Secured Overnight Financing Rate (SOFR). Also, since the assets pay a fixed rate, interest rate spikes could eat away at excess spread.

Credit enhancement builds over time and includes non-declining overcollateralization at 5.00% of the initial adjusted pool balance, and a reserve fund that represents 0.25%.

As the deal's servicer, GLS is considered less able to mitigate non-collateral risks on behalf of securitization bondholders, it is still experienced, with more than 35 ABS deals.

Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.

One tenant accounts for 59.7% of the leased capacity and 56.4% of annualized adjusted base rent, but also has a AAA rating.

MMP Capital has sold securitized bonds backed by equipment before, this will be the first one secured by medical aesthetic equipment contracts

U.S. assets whipsawed Wednesday by reports Trump was preparing to fire Powell, with shorter tenors rallying on the prospect that could lead to faster interest-rate cuts.

Renewed expectations that the Federal Reserve could start cutting interest rates as soon as next month supported gains in the bond market.

TPG Angelo Gordon estimates there's a $2 trillion market for home equity products. Thanks to tighter lending standards, the debt also appears safer than in the 2008 financial crisis.

Indexed to the one-month, I-Curve, yields are expected to range from 4.60% on the A1+ rated, A1 notes to 6.22% on the BBB-rated, class D notes.

Fixed-income trading was hit in the first two weeks of April and only returned to a "healthy" performance after that, the CFO said.

A vast majority of borrowers have either graduated from one of MPOWER's eligible graduate degree programs in science, technology, engineering and math (STEM) or business.

The yield on 30-year Treasuries briefly pushed over 5% in Asia and the pressure seeped into other markets, with yields rising sharply in Australia, the UK and in the developing world.

Coupons range from 4.4% on the noted rates P1/A1+ from Moody's and S&P, to 5.66% on the notes rated Ba1/BB+.

Tricon's pool had 49 vacant properties, which translated to a 3.4% vacancy rate in the pool, lower than the average 6.0% in KBRA's comparison set of 24 deals.

The portfolio is composed of 743 first-lien, fixed- and adjustable-rate, fully amortizing mortgages to borrowers with prime and non-prime credit. Most of the mortgages, 70.3%, are for home purchases.

The auto ABS deal can be upsized to $1.5 billion, and most of the notes benefit from credit enhancement equaling 6.10% on most of the notes.

The deal comes about 18 months after Maritime Partners completed its securitization of Jones Act shipping business revenue, raising $235.3 million.