Napier Park announces third railcar ABS deal

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By Jennifer Kang
21 Aug 2019

Alternative asset manager Napier Park is returning to the securitization market with a $258m deal via its railcar leasing platform with Trinity Industries after a two year hiatus.

Kroll Bond Rating Agency assigned an A rating to the ‘A-1’ and ‘A-2’ notes, and gave a triple-B rating to the ‘B-1’ notes. Credit Suisse is the sole structuring agent. The transaction is backed by 3,489 railcars with a 99.7% utilization rate. All of the railcars in the ...

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