Latest news with #securitization
Yahoo
3 days ago
- Business
- Yahoo
Dwight Mortgage Trust Announces Issuance of Inaugural Commercial Real Estate CLO
MIAMI, June 17, 2025--(BUSINESS WIRE)--Dwight Mortgage Trust LLC, a leading commercial real estate investment and finance platform, today announced the pricing of its inaugural Commercial Real Estate Collateralized Loan Obligation ("CRE CLO"), DWIGHT 2025-FL1, a $925 million securitization backed by a diversified pool of multifamily mortgage loans. The transaction marks a significant milestone for Dwight Mortgage Trust, expanding its capital markets capabilities and further institutionalizing its real estate credit platform. The CRE CLO is collateralized by 30 mortgage assets secured by multifamily, income-producing properties across the United States. "We are excited to bring our first CRE CLO to market," said Jai Agarwal, President and COO at Dwight Mortgage Trust. "This transaction provides us with a strategic, scalable financing vehicle that enhances our funding flexibility, supports continued loan origination growth, and aligns with our long-term asset management strategy. As our business continues to grow, we expect to periodically access the CRE CLO market." Transaction Highlights: Total Issuance Size: $925 million Collateral Type(s): 100% multifamily Advance Rate: 87.9% Reinvestment period: 2 years Co-Lead Managers / Bookrunners: J.P. Morgan, Atlas, Deutsche Bank Rating Agencies: Fitch, Kroll The transaction features a dynamic capital structure designed to optimize proceeds while maintaining alignment with investors through Dwight Mortgage Trust's retained equity interest and ongoing collateral management. The reinvestment period allows the manager to actively reposition the loan portfolio, subject to concentration and credit quality tests. About Dwight Mortgage Trust Founded in 2018, Dwight Mortgage Trust is a vertically integrated real estate investment firm with over $3.3 billion in assets under management. The firm focuses on originating and managing commercial real estate debt across a variety of property types and capital structures. For more information, please visit: View source version on Contacts Media Contact: Lindsay MorrisonChief Marketing Officermarketing@
Yahoo
3 days ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to Second Refinancing of Hildene TruPS Securitization 3, Ltd.
NEW YORK, June 17, 2025--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of refinancing notes issued by Hildene TruPS Securitization 3, Ltd. (HITR3), a securitization backed by a portfolio of bank and insurance TruPS CDO assets. The transaction originally closed in June 2020 as Hildene TruPS Securitization 2020-3 Ltd and had an initial refinancing in August 2021. This transaction will include an upsize of $43.7 million of new assets and resets the terms of the securitization including the stated maturity, non-call period, payment date when Turbo Payment Percentage is applied, portfolio and note notional balances and note interest rates. It is expected to have a performing collateral par value of $363.1 million from 64 obligors (72 assets) and total liabilities of $270.7 million. The transaction is static although Hildene Structured Advisors, LLC (HSA), the named collateral manager, can direct a limited amount of sales. HSA is a relying advisor to Hildene Capital Management, LLC (together with its affiliates, Hildene). The securitization is expected to consist of $176.4 million Class A1-RR Notes, $30.0 million Class A2-FR Notes, $51.4 million Class A2-NR Notes, $31.1 million Class B-RR Notes, $13.7 million Class C-RR Notes, $24.7 million Class D-RR Notes, and $34.7 million of Subordinated Notes. The ratings reflect current credit enhancement levels, excess spread, and structural features. The Classes A1-RR, A2-NR, A2-FR, B-RR, C-RR, and D-RR Notes are expected to have par subs of 51.7%, 29.5%, 29.5%, 21.0%, 17.3%, and 10.5% respectively. The current portfolio has a K-WARF of 432, which represents a weighted average portfolio assessment between BBB- and BBB-. Kroll Bond Rating Agency's (KBRA) preliminary ratings on Class A1-RR, A2-NR and A2-FR reflects KBRA's opinion regarding the likelihood of timely payment of interest and ultimate repayment of principal. While the preliminary rating assigned to the Class B-RR, C-RR and D-RR reflects KBRA's opinion regarding the likelihood of ultimate payment of interest and principal. To access ratings and relevant documents, click here. Click here to view the report. Methodologies Structured Credit: Structured Credit Global Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009952 View source version on Contacts Analytical Contacts Gilbert Ong, Senior Director (Lead Analyst)+1 Jerry Jurcisin, Director+1 Akiko Kato, Director+1 Eric Hudson, Senior Managing Director, Co-Head of Global Structured Credit (Rating Committee Chair)+1 Business Development Contact Jason Lilien, Senior Managing Director+1
Yahoo
13-06-2025
- Automotive
- Yahoo
America's Car-Mart Inc (CRMT) Q4 2025 Earnings Call Highlights: A Remarkable Financial ...
Net Income: Improved from a net loss of $31.4 million in the prior year to $17.9 million in net income, an improvement of over $49 million. Revenue Growth: Incremental revenue increased by 1.5% in the fourth quarter compared to the prior year's quarter. Unit Sales Volume: Increased by 2.6% in the fourth quarter. Interest Income: Increased by 4.2% in the fourth quarter. Full Year Unit Sales: Sold 57,022 units, down 1.7% year over year. Gross Margin: Fourth quarter gross margin was 36.4%, up from 35.5% a year ago; full fiscal year gross margin was 36.7%, a 200 basis point improvement. Net Charge-Offs: Improved to 6.9% of average finance receivables for the quarter, compared to 7.3% in the prior year quarter. Allowance for Credit Losses: Reduced by $10.3 million due to enhancements in the Cecil allowance methodology. SG&A Expenses: Increased by $3.8 million or 8.6%, driven by investments in technology, talent, and strategic acquisitions. Interest Expense: Decreased by $388,000 or 2.2%. Warning! GuruFocus has detected 12 Warning Signs with CRMT. Release Date: June 12, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. America's Car-Mart Inc (NASDAQ:CRMT) reported a significant financial turnaround, moving from a net loss of $31.4 million in the prior year to generating $17.9 million in net income this year, an improvement of more than $49 million. The company successfully executed its 7th term securitization, issuing $216 million in asset-backed notes with a favorable weighted average coupon of 6.27%, reflecting growing investor confidence. The introduction of a new 7 by 7 scorecard and risk-based pricing model is expected to improve credit performance and enable smarter growth. The relaunch of the 'Pay Your Way' platform, which includes digital payment options like Apple Pay and Google Pay, aims to enhance customer convenience and satisfaction. Gross margin improved to 36.4% in Q4, up from 35.5% a year ago, driven by stronger performance in the wholesale channel and strategic initiatives. SGNA expenses increased by $3.8 million or 8.6%, primarily due to investments in technology, talent, and strategic acquisitions, impacting short-term cost efficiency. The used car market remains dynamic with a tighter supply environment, posing challenges for procurement and inventory management. Despite improvements, the allowance for credit losses remains high at 23.25% of finance receivables, indicating ongoing credit risk. The company faces pressure from tariffs, which have led to a $300 increase in procurement costs per unit, affecting overall cost management. Interest expense decreased only slightly by $388,000 or 2.2%, indicating limited immediate relief from improved securitization rates. Q: How have tariffs and higher used car prices affected America's Car-Mart's business, and have there been any changes in consumer behavior? A: Douglas Campbell, President and CEO, explained that the impact of tariffs and higher used car prices began to manifest in April, towards the end of the quarter. The company has seen a $300 increase in procurement costs per unit, which is manageable. There hasn't been a significant pull forward of sales due to these factors. The company is focused on sustainable growth and has implemented risk-based pricing to navigate potential headwinds. Q: Can you provide an update on the operational upgrades and partnerships, and how they might affect gross profit margins and sales per store? A: Douglas Campbell highlighted that gross profit margins have improved, with a 90 basis point increase in the quarter and a 200 basis point improvement year-over-year. The company is focused on optimizing products and leveraging partnerships to enhance profitability. The relaunch of the Pay Your Way campaign is expected to improve collections and reduce friction in customer payments. Q: How will the rollout of risk-based pricing impact the company's financials, particularly yields and margins? A: Douglas Campbell noted that risk-based pricing has been implemented across all stores, with a focus on improving returns on lower-ranked customers and offering better terms to higher-quality customers. This approach is expected to enhance both credit performance and gross margins by attracting higher-quality customers and optimizing inventory. Q: What is the condition of America's Car-Mart's low-end consumers, and how are they coping with higher rates? A: Douglas Campbell stated that the company's low-end consumers are accustomed to navigating challenging economic conditions. There are no significant signs of distress, and demand remains strong. The company's interest rates remain competitive, and there has been no breakage in conversion rates, indicating that consumers still find value in America's Car-Mart's offerings. Q: How does the success in capital markets and ABS issuance impact America's Car-Mart's growth prospects? A: Jonathan Collins, CFO, explained that the company is pleased with its recent securitization efforts, which have tightened spreads and improved capital structure. The company is exploring additional capital market tools, such as warehouse loans, to further enhance its financial flexibility and support growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Bloomberg
12-06-2025
- Business
- Bloomberg
Asset Manager Dawson Pools Private Fund Stakes in $1.2 Billion Deal
Alternative asset manager Dawson Partners bundled up and sold private capital fund stakes as part of a $1.2 billion securitization, according to people familiar with the matter. Dawson completed the collateralized fund obligation earlier this year, the latest in a series of such deals it has done over roughly the last 18 months, the people said, requesting anonymity to discuss sensitive information. The deal was divided into multiple debt pieces rated by Kroll Bond Rating Agency as well as a riskier first-loss piece, with law firm Fried, Frank, Harris, Shriver & Jacobson LLP serving as legal counsel, said one of the people.
Reuters
30-05-2025
- Business
- Reuters
TeamSec Appoints Finance Leaders to Board to Drive AI-Powered Securitization and Fintech Growth
ISTANBUL, Türkiye, May 29, 2025 (EZ Newswire) -- TeamSec, opens new tab announced it has appointed three distinguished executives to its board of directors, each with over 90 years of global experience: former ICD CEO Ayman Amin Sejiny, Rasmal Ventures partner Alex Wiedmer, and Neeraj Makin, senior executive vice president at Emirates NBD. TeamSec is an AI-powered next-generation fintech and regtech company offering solutions in capital optimization and working capital liquidity. Its services are delivered through a fully automated, end-to-end securitization and invoice financing platform. Rapidly becoming a key player in its industry, TeamSec is strengthening its leadership team with executives who have a proven track record on the global stage. In this new era, TeamSec strengthens its leadership by appointing Ayman Amin Sejiny as vice chairman and adding Alex Wiedmer and Neeraj Makin to the board of directors. "Welcoming Ayman Amin Sejiny, former CEO of ICD; Alex Wiedmer, partner at Rasmal Ventures; and Neeraj Makin, senior vice president at Emirates NBD, to our board marks a defining moment in TeamSec's journey," said Esad Erkam Köroğlu, CEO of TeamSec. 'Their extensive global experience in investment banking, venture capital, and strategic innovation perfectly aligns with our mission to transform capital markets through our AI-powered securitization as a service solutions. Rather than symbolic, expanding our board is a deliberate move to strengthen our capabilities in entering new markets and navigating regulatory environments.' Corporate and Investment Banking Leader: Ayman Amin Sejiny Ayman Amin Sejiny brings more than 30 years of leadership in corporate and investment banking. He has served as CEO of Barclays Saudi Arabia, Ibdar Bank, Alkhair Bank (formerly Unicorn Investment Bank), and—most recently—the Islamic Corporation for the Development of the Private Sector (ICD), the private-sector arm of the Islamic Development Bank Group,, opens new tab which spans 55 member countries, maintains LOF relationships with 120 banks, and manages a portfolio of private-equity investments. Earlier in his career, Sejiny held corporate banking roles at Citibank and the Saudi affiliate of ABN AMRO. Throughout these assignments, he has driven strategic growth and forged partnerships in e-commerce, cash management, and cutting-edge fintech solutions. Venture Capital Veteran with 25 Years of Experience: Alex Wiedmer Joining TeamSec's board of directors, Alex Wiedmer is recognized for his over 25 years of venture capital experience across Europe, North America, and the MENA region. Currently a partner and director at Qatar-based Rasmal Ventures, opens new tab, Wiedmer was previously a long-time partner at Paris-based Iris Capital. During that time, he also served on the investment committee of STC Ventures, a pioneering VC fund in the Gulf region that achieved top-decile returns. With a strong track record in venture capital and entrepreneurial finance, Wiedmer has made over 60 investments in more than 50 companies. Strategist Shaping the Future of Banking: Neeraj Makin Another new addition to the board of directors is Neeraj Makin, who serves as group head of strategy, analytics, and venture capital at Emirates NBD, opens new tab and is a member of the executive committee. Makin has shaped the bank's long-term growth strategies and led major acquisitions, including BNP Paribas Egypt and DenizBank in Turkey. He also spearheaded the bank's international expansion by securing branch licenses in Saudi Arabia and India. In addition, he leads the corporate VC fund that invests in advanced analytics centres and promising fintech start-ups. With a background at EY and McKinsey, Makin brings deep mergers, acquisitions, and business strategy expertise. These appointments to TeamSec's corporate governance team will play a pivotal role in shaping the future infrastructure of capital markets and propelling the company to greater heights. TeamSec raised $7.6 million earlier this year to scale its AI-powered securitization platform and accelerate growth across the MENA region. The investment was led by Deniz Ventures, the venture capital fund of DenizBank established under the Emirates NBD Innovation Fund—the Corporate Venture Capital arm of Emirates NBD Group—and Rasmal Ventures, a leading Doha-based venture capital firm. TeamSec is committed to providing working capital and liquidity solutions to banks, financial institutions, and nonbank financial institutions through its end-to-end AI-powered securitization platform. Learn more at opens new tab. About TeamSec TeamSec is a next-generation fintech and regtech innovator, delivering AI-powered capital optimization and working-capital liquidity solutions via a fully automated, end-to-end securitization and invoice-financing platform. Our cloud-native, machine-learning infrastructure digitizes the entire securitization lifecycle—from asset selection and SPV setup through issuance and investor reporting—enabling faster, more flexible, and compliant access to capital markets. Operating across Türkiye, the Gulf region, and the United Kingdom, TeamSec empowers financial institutions and corporates alike to issue asset- and mortgage-backed securities or scale through digital credit solutions with zero operational burden. For more information, visit Media Contact Pirix Media Visibility for Startupscigdem@ ### SOURCE: TeamSec Copyright 2025 EZ Newswire See release on EZ Newswire
