News • 03/09/2023
On January 20, 2022, Loop Capital Markets mandates as an active co-manager on a three tranche $1.6 billion ABS offering for Verizon Communications, Inc. This was the inaugural use of VZ’s SEC registered ABS Master Trust. The VZMT 2022-1 Class A notes are rated Aaa(sf)/AAA(sf), 2022-2 Class A rated Aaa(sf)/AAA(sf), and 2022-2 Class B rated Aa2(sf)/AA+(sf) across 5- and 6-year tranches.
Use of proceeds are earmarked for general corporate purposes, to acquire Device Payment Plan Agreements from the originators and the additional transferor, to make the initial deposit in the reserve account, to redeem other credit extensions, and to make payments of principal on any other credit extensions.