Other ABS


SBA Communications Plans $760M Cell Tower ABS

SBA Tower Trust Secured Tower Revenue Securities 2017-1 is the first cell tower securitization to comply with risk retention rules that took effect in December. SBA will retain a subordinate, unrated tranche.

Hilton Markets $145M Timeshare Loan ABS for New Hawaiian Resort

Seventy-seven percent of the loans backing BRE Grand Islander Timeshare Issuer 2017-A are to foreign nationals, primarily Japanese, the largest S&P Global has seen in the timeshare space.

Westgate Readies $175M Timeshare Notes

Westgate Resorts is readying $175 million of notes backed by timeshare loans, according to DBRS. The transaction includes a prefunding account of approximately 25%.

Despite Anti-Smoking Campaign, California Selling More Tobacco Bonds

Last year, the state raised the smoking age and increased taxes on cigarettes; now it plans to issue another $618 million of bonds backed by payments it receives under the 1998 Master Settlement

Marriott Also Buying Defaulted Timeshare Loans from ABS Trusts

In a report published Monday, Fitch Ratings noted that a timeshare loan securitization Marriott completed in 2012 has not experienced a net loss to date -- but only because the company is repurchasing bad loans.


Receive FREE Asset Securitization Report Daily Alert

ASR People Database

Exclusive data on top players in capital markets

John Frishkopf

Treasurer, Head of Asset Management

Firm: NewStar Financial

Search the People Database

Current Issue

Shift from Leases to Loans Is Powering Solar Securitization

Owning may offer consumers more savings than leasing, but loans pose a different set of risks to investors when pooled into collateral for bonds.

Current Issue