SBA Update

August 7, 2017



Floating- and fixed-rate SBA markets fell between periods of active issuance last week, with secondary trading providing a surprising level of activity given the lack of issuance. Two-way activity in DCPCs and also in equipment-loan-backed SBA pools comprised most of the activity. Some of the secondary activity in DCPCs last week consisted of portfolio managers re-positioning in front of this week’s auction.

 

Floating-Rate 7(a) Pools

 

Fixed-Rate (DCPC and SBIC) Pools




Government Guaranteed Loan Trading

 

Activity levels last week demonstrated continued investor focus on the SBA sector. Oftentimes, a week without auctions or significant pool issuance provides little in the way of activity worth reporting. This week the DCPC auction will augment ongoing portfolio adjustments.

 



James Plunkett

Director of Investment Product Strategies

Vining Sparks

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