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Papier Union AR and PMF Factored AR securitisation
Two companies' assets were combined and securitised. Papier Union (a paper merchant) securitised its own ARs. PMF is a factoring company...
Dr P Singh
Jun 6, 20201 min read
Collateralised microfinance ARs securitisation
Collateralised microfinance account receivables Microfinance account receivables (ARs) were securitised. The underlying assets generating...
Dr P Singh
Jun 6, 20201 min read
Sprint in sale & leaseback securitisation of its airwaves
It issued a £3.5bn note secured by a portion of its investment in the US government's wireless spectrum infrastructure. Sprint has...
Dr P Singh
Jun 6, 20201 min read
Sprint in securitisation of its wireless service account receivables.
Wireless Service - Account Receivables 2014: Sprint and certain of its subsidiaries have entered into a bank revolving credit facility...
Dr P Singh
Jun 6, 20201 min read
Korean Airlines Future flow airline tickets securitisation
Future flow airline tickets 2010: Korean Air Lines (KAL) has returned to the securitization market. The underlying transaction ...
Dr P Singh
Jun 6, 20201 min read
Korean Airlines future flow Cargo receivables securitisation
2005: "Payments on the [Yen 20bn floating rate] notes are backed by future revenues from the sale of cargo services [cargo receivables]...
Dr P Singh
Jun 6, 20201 min read
Ferroglobe trade receivables securitisation
2018: Trade receivables from across the globe are the security for the securitisation. ING is snr lender, Ferro. holds snr and jnr sub...
Dr P Singh
Jun 1, 20201 min read
Black Box receivab1es securitisation
The securitisation of receivables (originated by Black Box’s subsidiaries in the United States and United Kingdom), was used to...
Dr P Singh
Jun 1, 20201 min read
Hapag-Lloyd in shipping receivables ABCP-funded securitisation
Feb 2018 $550m ABCP-funded securitisation of shipping receivables
Dr P Singh
Jun 1, 20201 min read
Nitron trade receivables ABCP-funded securitisation
29 Jan 2020. Chemicals trader established a $200m 1-year maturity ABCP-funded securitisation of its global trade receivables.
Dr P Singh
Jun 1, 20201 min read
StarTek receivables securitisation
A StarTek SPV purchases invoices off StarTek and they are sold to Regions Bank at a discount of LIBOR+1.60%. A non-usage fee of 40bp is...
Dr P Singh
Jun 1, 20201 min read
Raiffeisen-Leasing securitisation
The EIB Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), has supported a...
Dr P Singh
Apr 26, 20202 min read
Private securitisation
Zenzic Partners discuss in Private Debt Investor the benefits of private (as opposed to public) asset securitisation: Smaller minimum...
Dr P Singh
Apr 26, 20201 min read
Wyndham Destinations completes vacation ownership securitisation
$500M of asset-backed notes were issued by Sierra Timeshare 2018-2 Receivables Funding LLC, an indirect subsidiary of the company.
Dr P Singh
Apr 22, 20201 min read
CPS in securitisation of residual interests in 17 securitisations
Consumer Portfolio Services closed a financing backed by its residual interests in 17 previously issued securitizations. A qualified...
Dr P Singh
Apr 22, 20201 min read
Hilton Grand Vacations in vacation ownership loans securitisation
Vacation ownership loans (aka timeshare Ioans). To see how such loans can be financed, see here
Dr P Singh
Apr 22, 20201 min read
Starwood Property Trust in non-qualified residential mortgage loan securitisation
Its inaugural residential mortgage securitization, STAR 2018-IMC1, a $374 million transaction is comprised (primarily) of non-QM...
Dr P Singh
Apr 22, 20201 min read
Ellington Financial in non-qualified residential mortgage loan securitisation
The Ioans were originated by LendSure Mortgage Corp, in which Ellington has an equity stake. What is a non-qualified Mortgage? First...
Dr P Singh
Apr 22, 20202 min read
Credit Acceptance in dealer auto-loan securitisation
Credit Acceptance (CA) offers financing to automobile dealers for then to sell vehicles to consumers, regardless of their credit ...
Dr P Singh
Apr 22, 20201 min read
Workforce housing loan securitisation by Freddie Mac
Freddie Mac securitises housing workforce Ioans Its Green Advantage program focuses solely on workforce housing and requires borrowers to...
Dr P Singh
Apr 22, 20201 min read
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