ABS

Wisconsin Electric Power Co. will assign receivables from EC costs levied on monthly customer bill payments. The securitization strategy is expected to save ratepayers $41 million over traditional rate-based financing.

Deals, trends and research in structured finance and asset-backed securities for the week of April 23-29

The operator of 10 home-services brands is refinancing existing company debt with the securitization, according to KBRA.

But the rate for those loan-payment deferrals remains elevated over pre-pandemic levels.

In his annual letter to CEOs in January, he stressed the need for companies to respond to racial injustice, economic inequality and environmental degradation -- all issues traditionally left to government.

The subprime consumer lender will also collateralize loans from its newly launched secured-loan platform in its second securitization of 2021.

Demand is booming this year for securitized debt, as sales have not only recovered following last year’s Covid-induced dip, but are even eclipsing the pace of previous strong years.

The powersport equipment financing company is hoping to see its first profitable year in 2021.

Disruptions over the past two years and the portents of the FSOC report make it well worth considering how repo financers should respond when borrowers become distressed.

Crédito Real targets borrowers with little or no credit history as well as bad credit, who are undocumented or were recently discharged from federal bankruptcies.

Deals, trends and research in structured finance and asset-backed securities for the week of April 9-16

The $1.28 billion securitization includes a collateral pool with a higher WA FICO, lower LTV and shorter original terms that its previous loan ABS deal issued last October.

The $1.15 billion CarMax Auto Owner Trust 2021-2 could potentially be upsized to $1.56 billion, according to presale reports from Fitch Ratings and S&P Global Ratings. CarMax upsized its first deal of the year that priced in January.

Deals, trends and research in structured finance and asset-backed securities for the week of April 2-8

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.