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Sears Files for Bankruptcy, Marking Its Owners’ Latest Restructuring Move

Commercial Oberserver - 10/19/2018
Wallowing under the weight of steep losses and a steady decline in sales, Sears filed for bankruptcy today, marking its main investor’s latest attempt to return the 131-year-old company to profitability.
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Laplanche's new venture readies 1st exit for loan investors

Asset Securitization Report - 10/18/2018
Upgrade, the online lender started by Renaud Leplanche, the founder of LendingClub, is making its first trip to the securitization market. The $286.4 million deal is an important test for the company, which has raised $142 million of equity over the past two years, but has yet to turn a profit. 
Over the past two years, Upgrade has facilitated over $1 billion in personal loans to over 100,000 borrowers. While the company has a small ($10 million) warehouse lending facility, it is mostly reliant on whole loan investors to fund the loans originated by WebBank through its platform, according to Kroll Bond Rating Agency.
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Veros graduates to 'AA' on its second subprime auto ABS

Asset Securitization Report - 10/18/2018
Subprime auto lender Veros Credit, which debuted its first publicly rated securitization a year ago, is stepping up to double-A status for its follow-up asset-backed transaction. The California-based, family-owned firm is sponsoring its new $183.06 million Veros Auto Receivables Trust 2018-1 which includes a preliminary AA senior-note rating from Kroll Bond Rating Agency.
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Issuer readies rare life sciences securitization

Global Capital - 10/17/2018
Hercules Capital is marketing Hercules Capital Funding Trust 2018-1, a single tranche securitization backed by 36 loans. Of the pool of obligors in the deal, 62.9% are companies working in life sciences such as drug discovery and development and drug delivery, and 37.1% are technology focused companies working in areas including software and business or information services. Guggenheim is the sole arranger on the transaction. Kroll Bond Rating Agency has given the single tranche an A rating. 
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