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The first-time transaction under Fortress Investment Group's new shelf will be backed by long-term leases on 11 Amazon fulfillment and last-mile distribution centers – three of which remain under construction.July 6
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S&P Global Ratings has projected slightly higher investor loss levels for BMW Financial Services' first 2020 auto-loan securitization, compared to the captive-finance auto lender's previous deal in 2019. But that loss range (0.9%-1.11%) still remains minimal.July 6
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While the multifamily loan forbearance rate is lower than the most pessimistic projections, Pat Jackson says borrowers are hardly out of the woods yet.July 6
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The class A notes, secured by legacy trust-preferreds and subordinated debt of institutions, carry an investment-grade A1 rating from Moody's. That rating is slightly lower than a prior Hildene CDO, due to elevated pandemic risk to bank profitability.July 2
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King Street's new CLO is the first European deal rated by Moody’s to fail to meet all the portfolio requirements at this milestone.July 2
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The collateral in the $338 million also includes a large subset of mortgages (45% of the pool) that are considered "dirty current" loans with recent delinquent status.July 1
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Money managers including Owl Rock Partners, Pretium and PGIM are racing to add workers with restructuring and bankruptcy experience as they take in record amounts of cash to buy cheap assets battered by the economic fallout of the coronavirus pandemic.June 29
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Managers of funds investing in asset-backed securities (ABS) that dislike the work-from-home (WFH) environment common since the onset of the coronavirus had better learn to adapt, because the situation will most likely continue for a while.June 26
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Nissan Motor Acceptance Corp. recently filed a prospectus with the SEC to issue $1.3 billion in a mix of fixed- and floating-rate notes, and quickly priced the offering for coupons significantly lower than its $1 billion transaction in late April.June 26
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The changes in terms on Byrider Finance’s subprime auto ABS deal compared to its predecessor illustrate how the COVID-19 pandemic is taking its toll.June 26
