ABS

The FFELP loans carry a minimum 97% guarantee of principal and interest from the U.S. Department of Education.

Deals, trends and research in structured finance and asset-backed securities for the week of March 26-April 1

The compact-tractor manufacturer is supporting its first 2021 securitization with 4.75% CE, after two previous deals were closed with 5.5% enhancement levels to account for potential COVID-19 macroeconomic disruption.

A continuing macroeconomic recovery fueled by the federal government's stimulus payments to consumers has benefited GMF as well.

The Spanish bank is broadening its lending to speculative-rated borrowers from its traditional focus on high-grade debt, Noya said in an interview. It’s been building a team to get more high-yield mandates in Europe and the U.S.

A white paper released Monday by the Alternative Reference Rates Committee outlined how issuers could (and perhaps should) model new floating-rate transactions using a compounded version of the interbank overnight rate instead of Libor.

Deals, trends and research in structured finance and asset-backed securities for the week of March 19-25

JPMorgan Chase and Loop Capital Markets have submitted pitches suggesting ways to structure $1 billion of bonds that Governor Gavin Newsom proposed to build vehicle charging stations

The FFELP sector would become awash with liquidity as the federally-guaranteed loans are paid and the most distressed borrowers avoid default, market participants said.

Deals, trends and research in structured finance and asset-backed securities for the week of March 12-18

Deals, trends and research in structured finance and asset-backed securities for the week of March 5-11

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit-union securitizations nearly four years ago.

Navient Private Education Refi Loan Trust 2021-B has an average balance of $59,226 per account. The previous four Navient securitizations of refinanced private loans had average balances between $73,498 and $79,306.

Worried initially that marketplace lenders might falter at the first stage of a crisis, the sector has weathered the COVID-19 storm and now projects to match 2019's record securitization deal volume.

Almost 54% of the leases issued through Santander Consumer's Chrysler Capital unit are for terms beyond 36 months, the highest-ever share of extended-term contracts.

Four months after debuting its prime-only shelf, the e-commerce used-vehicle retailer returns with a follow-up offering from borrowers with a pooled FICO average of 707.

The latest pool reflects Dell's migration toward larger, investment-grade corporate obligors for its securitizations, in place of riskier small and medium-sized business contracts.

Deals, trends and research in structured finance and asset-backed securities for the week of Feb. 26-March 4

Ratepayer bond securitizations have helped utilities defray litigation expenses or finance 'stranded costs' related to deregulation since the '90s . A new wave appears imminent, driven by green-energy conversion needs and relieving the burden of pandemic-related consumer assistance.

DBRS Morningstar and S&P Global Ratings each have lower projected net losses for the $1.1 billion Westlake Automobile Receivables Trust 2021-1 transaction, in comparison to the subprime auto lender’s prior $1.4 billion securitization that priced in October 2020.