Servpro deal tightens as esoteric ABS continues to shine

Cat bond
By Jennifer Kang
17 Sep 2019

Servpro, a property restoration service, is on its way to price an inaugural whole-business securitization. As of Tuesday afternoon, the transaction was around seven times subscribed at 3.9% yield, sources familiar with the deal said.

“We are seeing pretty much every major investor in whole-business securitization show up for this transaction,” a person familiar with the deal said. “The investor count is approaching 50.”

Servpro’s first-ever ABS was upsized to $555m from $525m, and is expected to yield 3.9% for the single tranche on ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.