Other ABS


Apollo Selling $612.2M in Aircraft Lease Bonds

The mid-life to end-of-life aircraft in the portfolio – Apollo’s target vintage – has a maintenance-adjusted market value of $729.3 million, a weighted average age of 12.2 years and a remaining lease term of about 4.6 years.

DRI Returns with $150M of Drug Royalty Cashflow ABS

The notes will be issued from the same Drug Royalty III LP 1 master trust as a 2016 transaction; the portfolio of collateral will be most heavily concentrated in royalties from Keytruda (35.8%), Odefsey (17.1%), and Eylea (14.5%).

Element Offers Up $650M Vehicle Fleet Securitization

In April, Element merged Chesapeake Funding II LLC with a previous trust that held asset-backed commercial fleet lease collateral associated with Element’s 2014 acquisition of D.L. Peterson Trust and PHH Corp. The new series is the first term securitization by Element that will include the combined collateral from all three original leasing firms.

Deal Scan: S&P, DBRS Diverge on Earnest Student Loan ABS

S&P and DBRS have diverged on rating Earnest's private student-loan bonds; Comenity Bank offers a private-label card transaction; Leaf Commercial Capital returns with seventh small-ticket equipment lease securitization.

UK Payment-Plan Financer Issuing Notes Backed by £1B in Receivables

PCL Funding II will issue a yet-to-be amount of bonds that will be backed by receivables from the managed portfolio of receivables serviced by Premium Credit Ltd., a one-time subsidiary of HSBC that now has a 50% share of the U.K. insurance premium finance market.


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CLO Managers Holding Out Hope for Regulatory Relief

Some are wording the language of amendments used to refinance deals so as to be able to benefit if risk retention rules are repealed.

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