SBA Update

August 28, 2017

Portfolio managers were very active adding new issue floating-rate SBAs last week.  Investors focused on a handful of new issue real-estate-backed paper that came to the market.  Once the new issue paper was gone, investors returned their focus to seasoned floating-rate pools and a limited number of fixed-rate debentures trading in the secondary.


Floating-Rate 7(a) Pools


Fixed-Rate (DCPC and SBIC) Pools


Government Guaranteed Loan Trading




Investors were very receptive to the new issue floating-rate SBAs that came to market last week and continue to add seasoned floating-rate paper when available.  Fixed-rate SBA investors are looking to the September DCPC auction next week to satisfy current demand.


Greg Roll, CFA

Senior Vice President

Vining Sparks

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