Securitization

Pramerica has adjusted the structure of a €300 million CLO it priced this month, presumably to reflect the fact that an unusually large portion of the collateral is in fixed-rate bonds, as opposed to floating rate loans.

Seix Investment Advisors is returning to the CLO market for the first time since the financial crisis with a $400 million deal.

North Carolina’s Joint Underwriting Association and Insurance Underwriting Association issued $500 million Series 2013-1 notes via a new catastrophe bond shelf program, Tar Heel Re.

The Structured Finance Industry Group has 55 members and counting. The new trade organization’s website now has a link to all of those who have joined the group.

Credit Acceptance Corporation is coming down the pike with a $140 million securitization of subprime auto loans, according to a presale from Kroll Bond Ratings.

Global Tower Partners is readying a $245 million securitization of cell towers, according to a presale report from Fitch Ratings.

Freddie Mac is back marketing its multifamily CMBS this year, the $1.2 billion K-026 certificates.

Cronos Containers will issue a $200 million securitization backed by a portfolio of sea containers, according to Standard & Poor’s.

Ally Bank issued $585 million of floating rate asset backed notes from its dealer floorplan master owner trust.

Paul Jenison has joined Finacity Corporation as part of the firm’s effort to expand its business of securitizing and funding consumer receivables.

THL Senior Credit Strategies is in the market with its fifth collateralized loan obligation, according to a presale report by Standard & Poor’s.

Global issuance of commercial mortgage-backed securities (CMBS) is on a tear, according to stats from Dealogic.

Commercial Credit Group is preparing a $194.47 million securitization of equipment loans and leases, according to a presale report published by Standard & Poor’s.

Arbor Commercial Mortgage has hired Barbara Duka, Peter Ginsberg and Richard Bianchi; as it continues to expand and develop its CMBS and syndication platform.

While the changes to Spanish law governing mortgage foreclosures are ostensibly favorable to borrowers, Moody's believes they are credit neutral for Spain’s RMBS.

JP Morgan Chase priced its upsized $625 million credit card ABS transaction on Friday.

Honda Motors is in the market with its second auto loan securitization of the year, according to a presale report published today by Fitch Ratings.

Mercedes-Benz Financial Services USA plans to issue $1.26 billion of auto lease-backed notes, according to a Fitch Ratings presale report.

Apollo Global Management said today it priced its first European collateralized loan obligation; the €325 million deal is only the region's third since the financial crisis.