SBA Update

September 18, 2017

Portfolio managers continued extending duration last week by adding DCPCs from the September auction and certificates from the semi-annual SBIC issuance.   In addition, investors continued to add floating-rate SBAs to their portfolios last week with the majority of activity focused on equipment-backed pools.


Floating-Rate 7(a) Pools


Fixed-Rate (DCPC and SBIC) Pools

Government Guaranteed Loan Trading


Demand for fixed-rate SBAs continues to be strong, with the DCPC auction and SBIC issuance offering much needed supply to investors.  Investors continue to be active buying seasoned floating-rate pools, however portfolio managers are anticipating new issue equipment–backed pools hitting the market later this week.

Greg Roll, CFA

Senior Vice President

Vining Sparks

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