Securitization

Welk Resort Group is coming to market after a two-year hiatus; its previous securitization has yet to experience losses, but only because the sponsor is repurchasing defaulted loans from the trust.

The notes are backed by a revolving pool of short-term receivables generated from the sale of crude oil, oil products, non-ferrous metals, non-ferrous metal concentrates, iron ore, coal and refined metals.

The properties backing the $336 million transaction average 23 years of age, with valuations averaging $303,727 per property and an average monthly rent of $2,229. Most require pre-lease rehabilitation costs that amount to an average of $8,318.

KKR is undertaking a rare refinancing of a 2014-vintage collateralized loan obligation that does take advantage of a one-time exemption from risk retention requirements.

The $500 million commercial mortgage that serves as collateral was underwritten by Deutsche Bank and Citigroup; it allowed the building's owner, Alexander's, to cash out $187 million of equity.

Shipping companies need more units to meet a rise in global trade, and they’re not in a position to add to their own fleets.

Credit card losses are climbing as consumers take on more debt, but so far the performance of bonds backed by credit card receivables is holding up.

The deal is the second this year from the Mill City shelf; all told, five issuers have completed 15 deals totaling $8.4 billion; the consistent supply is attracting strong investor interest

This type of lending is in high demand, but most of it is being done on balance sheets by banks and insurers; transactions like this are still relatively rare.

Large banks have scaled back lending as competition has intensified and credit unions and financing arms of car manufacturers are picking up the slack.

The bonds are backed by contract payments on customer cellphones, a new asset class that has proven popular because of its high payment priority and potential for sizable issuance.

On Tuesday, state legislators voted to override Gov. Sam Brownback’s veto of a bill that would raise state income taxes, effectively killing a plan to reduce the budget gap by securitizing tobacco settlement payments.

The director of the Hawaii Green Infrastructure Authority is trying to put its bond money to work.

Upstart (that's it's name), which was founded by several former Google employees, makes unsecured installment loans to prime and near-prime borrowers.

American International Group Inc. could securitize through a unit it has previously used to buy jumbo loans.

Insurance companies surveyed by CREFC and Trepp continued to boost their allocations to commercial real estate in 2016, albeit at a slower rate than in 201.

The German subsidiary of Spanish lender Santander Consumer Finance is planning its first auto loan securitization of the year.

MFA Financial launched a debut offering of bonds backed by rehabbed loans Monday; several other firms have begun aggregating residential mortgages in preparation for possible securitization.

The $319 million transaction is the fifth so far this year as an increase in international trade boosts demand and the cost of manufacturing new containers rises.

Investors are lining up to buy bonds backed by the franchise fees of fast food chains, providing attractive financing for their private equity backers.