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The deal could be upsized to $1.3 billion in issuance, and benefit from several layers of credit enhancement, including a reserve fund, excess spread and overcollateralization.
November 22
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BAAT's four class A tranches have initial hard credit enhancement representing 3.75% of the pool balance, made up of subordination, 2.50%; a reserve account, 0.25%, and 1.00% in initial (and target) overcollateralization.
November 10
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The potentially upsized deal could see a cumulative net loss (CNL) proxy of 1.20%, and all of the notes have the same initial hard credit enhancement level of 3.25%.
November 9
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Total initial hard credit enhancements to vary, however, with levels of 8.85% and 6.85% on the class A and B notes, respectively.
November 7
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Total sales of new asset-backed securities are projected to reach $280 billion next year, edging out the $277 billion forecast for this year, strategist Powell Eddins wrote in an Oct. 31 note.
November 6
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Slated to close by September 29, the deal has total initial hard credit enhancement that amounts to 87.7% on the most senior class of notes.
September 22
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Citizens Financial Group announced the deal just weeks after saying that it would stop making car dealer financings.
June 23
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The initial $1.31 billion pool may be potentially upsized to $1.53 billion.
May 17
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The $1.28 billion securitization includes a collateral pool with a higher WA FICO, lower LTV and shorter original terms that its previous loan ABS deal issued last October.
April 15
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Deals, trends and research in structured finance and asset-backed securities for the week of April 2-8
April 8
