ABS

New vehicles account for about 21.5% of the SDART 2022-1 pool, down from 23.0% of the 2021-4 deal, amid the supply crunch for components to build new cars.

The sponsor, owned by Blackstone Real Estate Debt Strategies and a majority-owned affiliate of BREDS IV Residential Holdco, will retain a residual interest.

With minimal coupon protection, exceedingly long duration and super-tight credit spreads, the powder keg was fully loaded. Now we have sizzling inflation and hawkish central bankers providing us with the spark.

There are few safe investments today, and as inflation shows the biggest increase in 40 years, one opportunistic investor blasts CLOs’ risk versus returns.

Government bonds worldwide are extending declines after the worst six months in five years, a Bloomberg index showed. Meanwhile, the pool of negative-yielding debt shrank to a six-year low.

Hi-Fi Music 2022-1 has several credit enhancement features, including an interest reserve account that is initially funded and sized to cover 12 months of interest.

Investors are scrambling to position for more hawkish policies from the Federal Reserve to the Bank of England and the European Central Bank as officials seek to tame runaway inflation.

Craske will advise banks, originators and other financial institutions on a range of ABS, including auto loans and leases, trade receivables and insurance premium loans.

U.S. employers extended a hiring spree last month despite a record spike in Covid-19 infections and related business closures, with surging wages adding further pressure on the Federal Reserve to raise interest rates.

Marlette Funding will pay bondholders sequentially. Also, the transaction is structured to de-lever, so the level of credit enhancement will increase over time.