Just 66% of the collateral Navient Private Education Refi Loan Trust 2018-C consists of loans to borrowers with graduate, medical, law or other advanced degrees, down from 72% in a similar transaction in February.
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The company is marketing another $550 million of bonds backed by MSRs; proceeds will be used to repay the remaining $500 million of notes issued last year at wider spreads.
August 6
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The £325 million Dryden 63 CLO, sponsored by PGIM, will issue six classes of sterling-denominated notes; Barclays’ £4.5 billion Sirius Funding is issuing three tranches in three different currencies.
August 6
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The Series 2018-3 consists of five tranches of fixed-rate, two-year notes and the Series 2018-4 consists of five tranches of floating-rate, three-year notes.
August 3
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If President Trump’s tariffs on steel and other products stay in place long, big U.S. importers would be hurt and pass on the pain to their midsize and small-business suppliers — which are the bread and butter of commercial lending.
August 3
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The OCC has simplified language detailing how fintech charter applicants will clear requirements for meeting community needs. The move has some consumer groups worried.
August 3
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The eligibility criteria for loans that can be acquired are “more liberal” than recent CRE CLOs rated by Kroll; they are also more liberal than those of Hunt’s initial CRE CLO, completed last year.
August 3
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The sponsor has excluded receivables tied to Hyatt resorts, and as a result Westin loans account for just over half the $287 million total; the remainder are from Sheraton.
August 3
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Loans backing the $1.2 billion AmeriCredit Automobile Receivables Trust 2018-2 have the highest weighted average FICO score in the history of the platform.
August 2
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While Carlyle has been judicious with new issuance, it had a busier second quarter in refinancing older deals; several more will be ripe for refinancing in the third quarter.
August 2
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Fannie Mae’s treatment of a reperforming loan package helped drive up earnings by almost 41% to $4.5 billion, delivering a stronger dividend to Treasury ahead of a leadership change.
August 2
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The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.
August 1
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Mindful Wealth, an investment firm based in Singapore, is raising money to put to work in some of the riskier tranches of U.S. collateralized loan obligations, those rated BBB and B.
August 1
