Centerbridge Partners is tapping the commercial mortgage bond market to refinance a portfolio of Great Wolf Resorts waterparks.In August, the private equity firm obtained a $1 billion mortgage from three banks, JPMorgan Chase (60%), Goldman Sachs (20%) and Citigroup (20%); this floating-rate loan has an initial term of two years and can be extended by one year up to three times, for a total term of five years.
New kinds of bonds that PennyMac issued this year to finance its growing portfolio of mortgage servicing rights have been a big hit with investors.In February, the real estate investment trust issued $400 million of three-year notes that pay a spread of 475 basis points over one-month Libor. In August, it followed up with another $500 million of five-year notes that pay Libor plus 400 basis points.
Nonprime mortgage securitization has picked up considerably this year, with several new sponsors pooling these loans into collateral for bonds, many of them publicly rated. But lenders are only doing a fraction of what is possible, according to panelists at ABS East. Matt Nichols, chief executive of Deephaven Mortgage, said that the single limiting factor on the market is not investor appetite, but the supply of loans.
Muck Rack makes it simple to find people, tweets, or articles that mention any name, keyword, company, hashtag etc. We've compiled this guide to help you make the most of your search.
Selecting a term
Start searching tweets, articles from media outlets, articles mentioned in tweets, journalists'
names, titles and bios with some suggested searches:
Companies or Topics (e.g. iPhone, Microsoft)
Phrases (e.g. "cloud computing") — use quotes to keep the terms together
Twitter handles (e.g. @username) — returns those who have mentioned or replied to
Names (e.g. "David Pogue")
Hashtags (e.g. #sxsw, #london2012)
Bio details (e.g. vegan, Olympics, father)
Muck Rack's Advanced Search allows for many boolean operators.
Find results that mention multiple specified terms, use AND or
+. For example, ensure each result contains both Elon Musk and Mark Zuckerberg by
searching Obama AND Romney or Obama + Romney.
Use the operators OR or , to broaden your search when you'd like either of
multiple terms to appear in results. (This is the default behavior of our search when no operators
are used.) For example, search for democrat OR republican to find results that refer to
Democrats and/or Republicans.
Use NOT or - to subtract results from your search. For
example, searching Disney will yield results about the Walt Disney Company as well as Walt Disney
World Resort. To exclude mentions of Disney World, search for Disney -World or Disney
When using one of these operators with a phrase, enclose it in quotation marks. For example, you can
find results about smartphones excluding Apple's iPhone 4S by searching smartphone -"iPhone
Exact case matching or punctuation
If you're searching for a brand name or keyword that relies on specific punctuation marks or capitalization, you can
find results that match your exact query by adding matchcase: before the keyword you're searching for, like matchcase:E*TRADE .
Use parentheses to separate multiple
boolean phrases. For example, to find journalists talking about having fun in Disney World or
Disneyland, search for ("disney world" OR disneyland) AND fun.
An asterisk can be used to search for any variation of a root word truncated by the asterisk. For example, searching for admin* will return results for administrator, administration, administer, administered, etc.
A near operator is an AND operator where you can control the distance between the words. You can vary the distance the near operation uses by adding a forward slash and number (between 0-99) such as strawberries NEAR/10 "whipped cream", which means the strawberries must exist within 10 words of "whipped cream".