Deutsche Bank

A reserve account is in place, although its percentage of the pool balance decreased compared with the previous deal. Also, pre-pricing excess spread was 13.89%.

By aircraft value, Fitch says 6% are leased to credits considered investment grade, while the weighted average rating by Fitch Value ranges between 'B' and 'B-'.

Aside from employment numbers that are still fluctuating, year-over-year inflation rates could remain persistent, sending Fed base rates north of 3%.

No subordinate notes—the class M notes, essentially—will receive any principal payments until the senior class A notes have been paid down to zero.

After the prefunding period, up to 7.50% of the total pool balance will consist of collateral from earlier transactions or newly acquired assets, timeshare loans.

Denmark has offered additional checks and balances by the European Systemic Risk Board as a way to address concerns that insurers' investment in synthetic risk transfers could threaten financial stability.

On a weighted average (WA) basis, the collateral mortgages have a slightly higher leverage level than previous transactions, although moderate, with an original loan-to-value (LTV) ratio of 71.9%.

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.