Castlelake's fourth securitisation since 2014 has priced today, a S&P Global Ratings preliminary report indicates.
The $786 million transaction comprises three tranches of loans. The A-class loans carry a 3.97% coupon while the Bs have a 5.93% coupon and the Cs a 6.9% coupon.
FlightGlobal understands from someone who worked on the deal that the pool of investors is small and that the transaction was two-times oversubscribed.
The transaction has been rated by Kroll Bond Rating Agency (KBRA), which released its preliminary ratings yesterday, and S&P Global, which issued ratings for the three tranches today.
S&P rates the A tranche as "A", the B tranche as "BBB" and the C tranche as "BB", while KBRA came in at A, BBB and BB-, respectively.
Source: Cirium Dashboard
