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Home » Taco Bell Offers $2.1 Billion Whole-Business Securitization; $7.5 Billion Projected in 2015
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Taco Bell Offers $2.1 Billion Whole-Business Securitization; $7.5 Billion Projected in 2015

April 29, 2016
Structured finance investors don’t have much of an appetite for new non-agency MBS, but they appear to be hungry for fast-food business securitizations. Taco Bell is the latest firm to enter the market, offering a $2.10 billion securitization. The planned Taco Bell Funding LLC Series 2016-1 received preliminary BBB ratings from Standard & Poor’s late last week. It’s the second whole-business securitization to price this year, following a $575.0 million deal involving Sonic Drive-In that also priced in April. The Taco Bell securitization is backed...
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