The loans, which average 15-year terms, were originated by Vistana and Hyatt Vacation Ownership. Fitch Ratings notes a slight decline in borrower credit quality, and expects a slightly higher default rate.
Apollo Aviation Group will sell bonds backed by aircraft lease receivables from a $612.2 million transaction representing its fourth overall securitization.
DRI Capital is marketing another $150 million of bonds backed by royalties flowing from pharmaceutical patents on established drugs, according to Kroll Bond Rating Agency.
Corporate vehicle leasing giant Element Fleet Management is launching a $650 million securitization of open-end truck and auto leases serviced by its Gelco subsidiary.
S&P and DBRS have diverged on rating the senior notes in a $175.26 million securitization of private student-loan refinancings from Earnest Operations. Also, Comenity Bank has a new private-label card transaction through its World Financial master trust.
A leading non-life insurance premium financing (IPF) provider in the UK is preparing an asset-backed transaction backed by a pool of £1 billion in payment-plan receivables.
The Consumer Financial Protection Bureau plans to launch an inquiry into small-business lending, the first step toward crafting a rule for the collection and reporting of small-business lending data.
Commercial truck lessor Automotive Rentals Inc. is sharply reducing exposure to oil & gas exploration clients in its new $575.2 million fleet securitization of specialty vehicle leases.
Palomar Specialty Insurance Co. said Wednesday closed on its first catastrophe bond. The $166 million Torrey Pines Re will provide Palomar with protection against multiple perils over a three-year period.
