SBA Update

October 2, 2017



Portfolio managers continued adding both floating-rate and fixed-rate SBAs to their portfolios last week.  Floating-rate additions were mostly new issue equipment-backed pools, although seasoned real-estate pools were also in the mix.  Also, the semi-annual SBIC issuance continues to trade well as some investors continue to look for fixed-rate allocations to their portfolios.

 

Floating-Rate 7(a) Pools

 

 

 

Fixed-Rate (DCPC and SBIC) Pools

 

Government Guaranteed Loan Trading

 

September prepay speeds were on par with last month as all SBA pools experienced an 8.7 CPR, slightly higher than the full year speeds for 2016.  Demand for floating-rate and fixed-rate SBAs continues to be strong with a variety of structures available in the market.  New issue equipment-backed pools and seasoned real-estate-backed pools were actively traded last week.

 

 

 

 

 

 

 


Greg Roll, CFA

Senior Vice President

Vining Sparks

INTENDED FOR INSTITUTIONAL INVESTORS ONLY.
The information included herein has been obtained from sources deemed reliable, but it is not in any way guaranteed, and it, together with any opinions expressed, is subject to change at any time. Any and all details offered in this publication are preliminary and are therefore subject to change at any time. This has been prepared for general information purposes only and does not consider the specific investment objectives, financial situation and particular needs of any individual or institution. This information is, by its very nature, incomplete and specifically lacks information critical to making final investment decisions. Investors should seek financial advice as to the appropriateness of investing in any securities or investment strategies mentioned or recommended. The accuracy of the financial projections is dependent on the occurrence of future events which cannot be assured; therefore, the actual results achieved during the projection period may vary from the projections. The firm may have positions, long or short, in any or all securities mentioned. Member FINRA/SIPC.
Copyright © 2021
Member FINRA/SIPC
This is a publication of Vining-Sparks IBG, L.P.
775 Ridge Lake Blvd., Memphis, TN 38120