Securitization

Investors offloaded $12.6 billion of Treasuries last year, but that figure was dwarfed by a record $121.8 billion purchase of U.S. agency debt, higher-yielding securities.

The move to shutter the lines of credit for future collateralized loan obligations — so-called warehouses — comes as BirchLane winds down and returns cash to its investors.

Borrowers that are couples, and where the female is younger, account for 32.55% of the pool's aggregate unpaid principal balance, the plurality.

S&P views the transaction's exposure to environmental credit factors as above average, given that the collateral pool primarily comprises vehicles with ICEs.

The deal has a $10 million prefunding account that could purchase additional eligible receivables during a three-month period after closing.

Similar to recent transactions, the collateral pool includes loans with an original term greater than 72 months, which Ford adjusted for in the underwriting.

Lenders and borrowers have just a few months to negotiate how they're going to ditch the disgraced Libor benchmark in the leveraged loan market, and time is of the essence.

LBZZ 2023-1 has a reduced recovery rate assumption on the current transaction at 50%, given deteriorating recovery trends and lower used vehicle values.

Martin Silver, 65, pleaded guilty in April, admitting that he conspired to defraud investors by overvaluing distressed loans and creating bogus documents and fake loans to hide losses.

The pro-rata/sequential hybrid structure provides some credit enhancement along with cumulative loss and delinquency trigger events and excess spread.

Fitch and Moody's might have differing outlooks on the notes' CNL outlook, but they agree that HDMOT 2023-A's collateral pool is marginally stronger.

Healthcare companies used to be some of the safest to lend to during economic downturns, until private equity firms bought them out and larded them with debt.

The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.

Retail (36.1%) and office (28.1%) accounted for the largest percentages of loans by far, and the largest percentage of loans is in large metro areas.

PAID 2023-1 will secure the underlying assets through a three-month pre-funding period, half of the six-month period that was in place for 2022-5.

Solar Mosaic offers loans for residential solar energy systems with tenors of five to 25 years, a decrease of 10 to 30 years under previous loan offerings.

Ivascyn finds himself at a critical juncture. Pimco Income Fund, the world's largest actively managed bond fund, has started to trail its very top-performing peers.

The residual value loss is one percentage point higher than the previously rated 2021-2 transaction, due to an increase in the notes' base residual settings.

The structured finance specialist sees opportunities to expand the CLO investor base with the product, as the CLO-driven funds win over other sponsors.

Companies issued more than $18 billion of US dollar-denominated bonds this past week at an average concession of -1 basis point, on the back of orders that were five times the offering size.