ABS

Verizon is making its second trip to the securitization market to help offset the expense of providing customers with financing for mobile phones.

TSASC, a local development corporation, is preparing to issue $1.024 billion of debt secured by tobacco settlement revenues, which cigarette companies pay as part of their 1998 settlement with 46 states, including New York.

Apollo Aviation Group priced its third aircraft securitization on Friday, October 28, 2016.

The Loan Syndications and Trading Association announced Monday that the new so-called “delayed compensation” standards have resulted “well over 90 percent” compliance in stricter settlement windows for secondary par trades.

Diamond Resorts is preparing its first offering of bonds backed by timeshare loans in nearly a year, according to Kroll Bond Rating Agency. A lot has happened in the meantime.

Bank of California in Irvine has sold an equipment-finance business to Hanmi Financial in Los Angeles.

Global aircraft lessor ALC is making a trip to the securitization market to refinance 19 aircraft on lease to 16 airlines located in 13 countries.

USAA is planning to issue another $280 million of catastrophe bonds through its Residential Re platform.

Engs Commercial Finance, a specialty lender that finances the acquisition of trucks and trailer by small and medium-sized businesses, is making its second trip to the securitization market.

The rating agency has changed the way it assesses the risk of combo notes, a hybrid debt and equity instrument, to account for what happens to them when a deal is refinanced. This could result in downgrades on existing combo notes issued by 38 collateralized loan obligations. It could also complicate the way future combo notes are structured.

The Apollo Aviation Securitization Equity Trust 2016-2 is supported by the receivables of 35 aircraft leases to 22 airlines in 20 countries, with an initial portfolio value of $792.2 million – which is almost a quarter of the investment management firm’s $3.1 billion in total aviation assets under management.

You can’t pull money out of thin air, but that’s what Sprint Corp. appears to be doing by entering into a sale-and-leaseback agreement for a portfolio of licenses granted by the U.S. government

PFS Corp. is preparing a $200 million securitization of loans used to finance insurance premiums, according to Moody's Investors Service.

Mid-market business equipment leasing firms Ascentium Capital and Axis Capital has each launched securitizations of recent contract pools.

Insight Wireless Group is issuing another $301.5 million of notes backed by cellular towers, according to Fitch Ratings.

Orange Lake Country Club is marketing $176 million of notes backed by timeshare loans, according to Fitch Ratings.

The Florida Public Service Commission has a beef with Standard & Poor’s, Moody’s Investors Service, and Fitch Ratings, which all characterize bonds backed by utility fees as a kind of structured finance, rather than as corporate bonds.

Sprint Corp. is borrowing against its most valuable asset – the airwaves – to buy more time for a turnaround.

The Florida Public Service Commission takes issue with the way that three U.S. credit rating agencies classify certain bonds issued on behalf of two power companies that operate in the state.

Vertical Bridge CC, LL Secured Tower Revenue Notes, Series 2016-2 is a $196 million pooling of its 407 communications broadcast towers, including 377 that it acquired in a sale-leaseback transaction in December 2014 with iHeartMedia, Inc., the radio broadcast station ownership giant and its largest client.