Tricon comes tighter in rental ABS debut

for rent
By Ryan Bolger
28 Apr 2015

Tricon American Homes saw its debut rental home securitization price a lot tighter than initial price thoughts and guidance on Tuesday.

The $361.748m issuance is backed by a single loan, which is in turn collateralised by a portfolio of 3,509 single-family rental properties. All but one of the six offered tranches were priced around 10bp inside guidance.

The top tranche of Tricon’s deal totals $170.53m and was priced ...

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