Equipment ABS net losses inch up in October
Credit performance in the equipment asset-backed securities (ABS) market was mixed in October as annualized net losses ticked up and 60-plus-days delinquencies dropped across all publicly rated equipment ABS deals. Annualized net losses in Kroll Bond Rating Agency’s Equipment Loan &
CIT supplies Utopia Deals with $35M revolving credit facility
CIT’s asset-based lending business has inked an agreement with global retailer Utopia Deals to supply the company with a $35 million revolving credit facility. CIT, a division of First Citizen’s Bank, is providing Plainview, New York-based Utopia Deals with working capital
Trinity Capital enters joint venture with specialized credit manager
Trinity Capital has entered into a joint venture agreement with an unnamed specialist credit manager with more than $5 billion in assets to provide loans and equipment financing to growth-stage companies. The joint venture, called i40, will be co-managed by Trinity and
CIT director Harold Ray to join fireside chat at Equipment Finance Connect
Harold Ray, director of the industrial finance division at CIT, is set to take the stage for a fireside chat to discuss the state of the equipment finance industry amid a rising interest rate environment and inflationary pressures at Equipment
Equipment finance new business volume up 6%
Overall new business volume in the equipment finance sector in October jumped 6% year over year and 11% month over month to $11.3 billion despite rising interest rates and the expectation of a forthcoming recession. Year to date, cumulative new business
EV equipment financing poses ‘huge opportunity’ for lenders
Financing energy equipment presents a potential opportunity for financiers as electric vehicles (EVs) gain traction, evidenced by General Motors’ launch this month of GM Energy, which will produce EV chargers and energy-management products for homes and businesses. GM Energy will manufacture stationary battery packs and
Royal Media, Trnsact launch equipment finance ‘matchmaking’ event
Royal Media, a leading global information provider and the publisher of Auto Finance News, has partnered with Trnsact, a top equipment finance technology provider, to present a new event for the equipment finance sector to foster meaningful industry relationships and results. The $900
New federal statute eases burden on LIBOR transition
NEW YORK — A new federal statute tied to the Consolidated Appropriations Act should ease the burden on bank-regulated lenders as the industry prepares for the forthcoming transition away from the London Interbank Offered Rate (LIBOR). The Adjustable Interest Rate LIBOR
Financiers should watch for ‘stagflation,’ economist says
NEW YORK — Financiers need to keep an eye on “stagflation” as the cost of goods and services continues to increase as a result of coronavirus-induced supply chain constraints, the compounding effects of the war in Ukraine and rising energy
