ABS

After Athas Capital Group winds down DLJ Mortgage Capital will make all loan-level representations and warranties for the deal.

The inaugural CLO for Northwestern Mutual Investment Management and offers notes that appear to have a lower scenario default rate, plus higher WA recovery rate.

There's an unusual contributing factor: wild swings in markets mean borrowing windows often shut before firms can begin to sell their bonds.

The deal's collateral manager, GC Advisors, will retain the subordinate $122.8 million tranche, leaving $264 million to be sold to bond investors.

Surging costs and softening demand for foie gras, smoked salmon and other festive food will burn up cash at Labeyrie Fine Foods SAS this year.

GM Financial and Santander Consumer USA together once made up more than 80% of subprime issuance in 2011, and now they account for just 34% of YTD issuance.

The biggest lenders are bagging bigger chunks of the $1.4 trillion market for private credit as investors get choosier about where they park their money.

When broken down by revenue, natural gas accounts for 80% of the assets' revenue mix; natural gas liquid accounts for 16% and oil revenue represents 4%.

More debt financing was canceled or postponed globally in 2022 than even during the tumultuous pandemic period.

The $755.5 million mortgage-backed securities deal will fund a range of properties, but large-balance loans represent 42% of the collateral pool's balance.