Securitization

The vehicles comprise the overcollateralization (OC), because of a highly liquid secondary market for them. That OC rate will shift according to the fleet mix.

At the Denver firm, Brooks will expand its capabilities in real estate lending and structured finance.

TPG Angelo Gordon estimates there's a $2 trillion market for home equity products. Thanks to tighter lending standards, the debt also appears safer than in the 2008 financial crisis.

Non-residential customers accounted for about 56.4% of Kentucky Power's revenue, a potential credit risk because it is closely tied to business cycles.

Willis Engine Structured Trust, VIII, sells its fixed-rate notes through two tranches, all with a legal final maturity date of June 2050.

The volatility pushed whole loan spreads wider and brought single-asset single-borrower commercial mortgage-backed securitization to a halt as lenders waited for clarity.

On a cumulative basis, advance rates on the notes range from 95.4% on the A1 notes to 121.8% on the class M5 notes.

The whole business securitization will issue notes through four classes of A, B and C notes, and uses a master trust structure, so it can issue additional classes.

The notes get credit enhancement from overcollateralization and a reserve representing 4.75% and 0.25% of the pool balance, respectively.

The transaction's pool of 365 fixed-rate mortgages, all first lien, breaks down to mostly non-agency loans (61.4%). The rest, 38.6%, are agency eligible.

Citigroup Inc. is structuring the so-called collateralized fund obligation, which will include both debt and equity portions.

Most of the contracts in Point Securitization Trust, 1,750 (81.64%), are second-lien as of the cut-off date.

Several features, including a couple of cash trapping mechanisms and a rapid amortization feature, help maintain cashflow to the notes.

The initiative aims to channel the bloc's financial firepower more efficiently and spur growth by funding key industries including the defense sector.

The deal priced at 335 over, beating expectations for the transaction to price at 350 over, due to bond market volatility.

Stream Innovation 2025-1 also has a two-month prefunding feature, and during that time the $199.6 million in receivables is slated to expand to $249.6 million.

The riskiest portion of the securitization, worth $65 million was wiped out earlier this month after the loan's sale left just $164 million to distribute to creditors.

All the notes have credit enhancement totaling 28.3% of the pool balance, rating agencies said.

The deal has a prefunding period through July, when more non-prime collateral can be purchased and added to the pool.

There are 22,704 contracts in the collateral pool, which lends itself to high diversification. The top 5 obligors account for just 0.4% of the pool.