SBA Update

May 21, 2018



Floater activity picked up last week, with increased investor activity in par handle pools and also in shorter-amortization equipment-loan pools. Fixed-rate activity slowed, mostly because the prior week featured a dual DCPC auction and no new paper priced last week. The overall bond market sell-off did incite some fixed-rate interest mid-week, and fixed-rate SBA spreads remain at the wide end of their six-month range.

 

Floating-Rate 7(a) Pools

 

 

 

Fixed-Rate (DCPC and SBIC) Pools

 

Government Guaranteed Loan Trading

 

 

SBA floaters enjoyed increased investor interest last week. Par handle pools and equipment loan pools shared the limelight, with real estate pools mostly maintaining wallflower status. Despite favorable spreads, fixed rate SBAs only received modest investor attention last week.

 

 



James Plunkett

Director of Investment Product Strategies

Vining Sparks

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