ABS

The world’s well of debt with yields below zero has shrunk to the lowest in more than three years as the prospect of imminent interest-rate hikes drives a selloff in bonds.

The collateral pool is comprised of receivables assets based in Japan, and several classes of the transaction will issue dollar-denominated notes.

When distressed-debt investor Mudrick Capital Management bet on an aviation startup in December, it was a sign that opportunities have dried up in one of the most lucrative corners in finance.

If the minimum CE test or the delinquency test is not satisfied, then 100% of the scheduled and unscheduled principal will be allocated to the senior tranche.

The U.S. Treasury boosted its estimate of federal borrowing needs for the three months through March after entering the quarter with a cash pile that was run down by congressional delays in lifting the government’s debt limit.

Series 2022-1 is under the structure of a master trust, and can issue additional notes. Class A notes will amortize to an LTV ratio of about 71.0%, in about seven years.

Wall Street’s biggest banks are at odds over how fast and far the Federal Reserve will raise interest rates after Chair Jerome Powell signaled it could be more aggressive than previously anticipated in tackling the strongest inflation in four decades.

RAC Asset Holdings, a related entity, has been purchasing older vehicles with more mileage, and spent more on reconditioning, to make up for the squeeze on supply of vehicles.

Investors are also speculating whether Fed Chair Jerome Powell will front-load hikes by potentially making a rare 50-basis-point move in March, after he struck a hawkish tone at this week’s meeting.

Store counts and systemwide sales could expand further, and soon; in December 2021 the company announced its intentions to acquire Del Taco for $575 million.