ABS

Oxford Finance's collateral has a maximum advance rate of 72.0% on the A1 and A2 notes and 82.0% on the class B notes.

FFIN 2025-3's average loan balance, $16,366 was lower compared with the 2025-2 deal, when it was $19,993, and the WA interest rate on the current deal is 12.15%, down from 12.56%.

In terms of asset fundamentals, the high-quality tenant committed to a 15-year lease with maturity dates through various end dates in 2040. That includes 2.0% annual rent increases.

King Ridge is already managing the world's first-ever cat-bond ETF for Brookmont Capital Management, which initially planned a European version of its ETF, but shelved it earlier this year.

This is PowerPay's second 144A transaction, which has a 90-day prefunded period, initially funded with $132.9 million in deposits.

If the average one-month conditional prepayment rate (CPR) over a six-month period is equal to or greater than 25%, then Brean ABS will deposit 50% of available funds into the Refunding Account.

Moody's details several strengths in the transaction, including a robust underwriting process. The assets also have a short, weighted average (WA) original term of 52 months.

Switch has a large national network of data center properties, with more than 700 patents and patents pending for designs and operations in the space.

While the firm has not yet finalized how much it plans to raise via the collateralized fund obligation or CFO, the transaction could be around $1 billion.

Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets.