Hercules preps venture debt-backed ABS deal

Hercules Capital, a firm specializing in making loans to venture capital backed companies in the life sciences sector, is preparing a new ABS offering.

  • By Jennifer Kang
  • 07 Jan 2019

On Monday, Kroll Bond Rating Agency assigned a preliminary A rating to the class ‘A’ notes of Hercules Capital Funding Trust 2019-1. The deal will be offered in a single $250m tranche.   

According to the Kroll presale report, the deal is backed by a pool of 41 ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 15,256 32 16.83
2 Bank of America Merrill Lynch (BAML) 10,179 30 11.23
3 Citi 9,751 23 10.76
4 Lloyds Bank 7,329 24 8.09
5 JP Morgan 6,580 10 7.26

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Rank Lead Manager Amount $m No of issues Share %
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1 RBC Capital Markets 251.51 1 25.00%
1 MUFG 251.51 1 25.00%
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1 Bank of America Merrill Lynch 251.51 1 25.00%
Subtotal 1,006.02 1 100.00%