Securitization

Eight blue-chip companies that had planned to sell bonds decided to stand down, underwriters said. Worries about Evergrande pulled down equities around the world.

The trust excludes loans from about six states with active legislation addressing the exporting of usury rates to out-of-state borrowers.

Sequoia Mortgage Trust is among the first to include a distributed ledger agent in its reporting processes.

The car maker is refinancing three revolving credit facilities using the Secured Overnight Financing Rate, and embedding climate-change goals into the deals.

While the loss coverage is subsequently lower for the notes, totaling $194.2 million, it is expected to be sufficient to cover required rating multiples.

The threat of crippling price increases accompanied by slow growth challenges the belief keeping global markets aloft: that price pressures are temporary along a Goldilocks-like growth trajectory.

All of the underlying leases are financing new cars, Fitch noted, adding that leases under 36 months for the original term represented about 82.3% of the pool.

The trust includes a 36-month revolving period that will allow it to purchase additional receivables as it collects principal.

The varied portfolio includes loans with strong credit profiles, a WA FICO score of 734 and an original, combined loan-to-value of 68.3%.

Treasuries rallied and U.S. stocks declined after a less-than-forecast increase in inflation was seen as giving Federal Reserve officials more flexibility when it comes to pulling back on stimulus. The dollar fluctuated.

Dryrock’s collateral maintained strong performance numbers for the past 12 months, with higher monthly payment rates and fewer chargeoffs compared to last year.

Fitch's negative sovereign-issuer rating for the U.S. casts a negative rating outlook on ECMC Group Student Loan Trust (ECMC) 2021-1, due to DOE reinsurance.

Early pricing discussions are for a low-4% yield for the eight-year tranche, and 25 basis points more for the 10-year portion, a steep decrease in the cost of borrowing.

Obligor concentrations are unique compared to other equipment-finance ABS, but outside the top 20 obligors the pool aligns with traditional small-ticket deals.

The transition away from Libor is hitting a milestone as Ford Motor Co. does the first syndicated U.S. corporate loan tied to regulators’ preferred replacement for the benchmark.

Pagaya Investments US looks to sponsor $675 million in asset-backed securities collateralized by marketplace loans, expanding its experience in AI-underwritten debt.

Credit Suisse Group AG’s sustainability chief added his voice to a growing chorus of industry professionals calling for the regulation of ESG ratings.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

World Omni Financial Corp. is returning to the auto-loan ABS market with a jumbo transaction backed by collateral of higher credit quality than other similar deals.

Low pool concentrations of loans on properties located in Ida's path, plus robust property insurance are expected to rein in impacts and insulate noteholders.