ABS

As banks get pummeled by risk aversion and sinking asset values, direct lenders are lavishing risky companies and private-equity firms with capital at rates below what’s available in the high yield and syndicated loan market.

SESAC Finance, Series 2022-1, will add collateral related to collections from Audio Network, a production music company that SESAC bought in July 2021.

Given the significant amounts of energy needed for lighting and climate control, data centers involve more environmental risks than other property types.

The move by the club of rich nations on the concluding day of their three-day summit in the Bavarian Alps comes as part of a broader push to choke off the profits Russia makes from energy exports.

Macchia and Rowan’s hires continue Mitsubishi UFJ Financial Group’s strong expansion in debt capital markets, ABS and leveraged finance since January.

The securitization portfolio consists of originations exceeding risk-based portfolio concentration limits for Channel Partners Capital’s partner firms.

KopenTech’s KTX DirectBidding will likely compete with Octaura Holdings, an upcoming electronic trading platform for syndicated loans and CLOs.

Upstart does not maintain exposure to loans’ credit risk to the same extent as other ABS, making underperformance more likely to negatively influence confidence.

The mall’s value sank some 80% to just $147 million in an appraisal last year. Destiny was slammed by the usual suspects that have hurt malls broadly.

Observers did not raise alarms about SLABS’ immediate or near-term performance, but the notes’ underlying loans are expected to stay resilient.

Bond investors may already be pricing in the peak of the US rate cycle as concerns about a downturn mount, according to Steven Major, global head of fixed income research at HSBC.

As Revlon files Ch. 11, powered by a proposed $575 million debtor-in-possession facility, experts raise flags on the potential erosion of its outstanding CLOs.

(Bloomberg Opinion) -- If you’re still holding out hope that the Federal Reserve will be able to engineer a soft landing in the US economy, abandon it. A recession is inevitable within the next 12 to 18 months.

Nissan Auto Lease Trust, 2022-A’s base residual value—as a percentage of securitization value—had increased to 72.3%, up from 71.6% on the previous deal.

Barretto will be responsible for building out MUFG’s ABS trading platform, with a specific focus on expanding the firm's esoteric business and market share.

Starwood Mortgage 2022-4, will issue certificates secured by fixed- and adjustable-rate mortgages, the latter pegged to the Secured Overnight Financing Rate.

Sentiment this week is being helped by comments from President Joe Biden that a US recession isn’t “inevitable,” but the outlook remains parlous for investors.

A high concentration in multifamily properties, which have defaulted at much lower rates than other property types, is a positive consideration.

High hopes for 2022 crashed when Russia invaded the Ukraine, which left hundreds of aircraft stranded in Russia. But sector consolidation could lead to more deals.

Inflation and fears of potential recessions that are playing havoc with stocks, bonds, currencies and crypto are hurting loans too. This is a problem for banks that underwrite loans and sell them to investment funds.