Mariner is indirectly owned by private equity funds managed by Warburg Pincus, LLC through WP Raven. (“MF Raven”) which, in turn, is indirectly wholly owned by WP Raven Acquisition, LLC (“WP Raven”). Mariner was founded in 2002 and is currently a wholly owned subsidiary of MF Raven Holdings, Inc. This transaction includes a two-year revolving period where additional collateral may be funded in the transaction so long as it complies with certain eligibility criteria and the resulting collateral pool, following any additions, is maintained within reinvestment criteria. Credit enhancement is comprised of overcollateralization, subordination of junior note classes, a cash reserve account, and excess spread. The preliminary ratings reflect the initial credit enhancement levels of 48.00% for the Class A, 38.00% for the Class B notes, 32.30% for the Class C notes, 25.95% for the Class D notes, and 16.40% for the Class E notes. The notes are collateralized by approximately $357 million of secured and unsecured, fixed-rate, personal loans originated by Mariner Finance, LLC, (“Mariner” or the “Company”) as of the August 31, 2022, Statistical Cut-Off Date.
MFIT 2022-A will issue five classes of notes totaling $300 million. NEW YORK-( BUSINESS WIRE)-KBRA assigns preliminary ratings to five classes of notes issued from Mariner Finance Issuance Trust 2022-A (MFIT 2022-A), a personal loan asset-backed securities transaction.
0 kommentar(er)
