SBA Update

May 15, 2017

Demand for floating-rate SBA structures continues to be steady, although new issue supply is limited.  For now, demand for 10-year and 20-year structures are being met with secondary offerings of seasoned pools. Fixed-rate SBA demand was satisfied last week with the May auction of 10-year and 20-year DCPC paper.

Floating-Rate 7(a) Pools


Fixed-Rate (DCPC and SBIC) Pools

Government Guaranteed Loan Trading

Demand for floating-rate SBAs should continue to be satified in the short run by seasoned paper offered in the secondary.  The May DCPC auction should continue to be absorbed by portfolio managers wanting to add a fixed-rate component to their portfolios.

Greg Roll, CFA

Senior Vice President

Vining Sparks

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