Financial Management
Priority | December 11, 2023
Priority Technology Holdings, Inc. a leading provider of unified commerce solutions to businesses that accelerate cash flow and optimize working capital, has announced a strategic partnership with Treasure Financial Inc., a leading financial technology innovator in treasury management technology.
Priority’s integration with Treasure Financial’s cutting-edge embedded yield API will enable Priority’s customers to allocate their excess working capital to an investment account across a diversified portfolio comprising premiere, secure vehicles such as Treasuries, Treasury Inflation-Protected Securities (TIPS), Government-backed money market funds, and professionally managed fixed-income instruments. This innovative partnership with Treasure provides Priority’s customers with a truly unified commerce platform that allows them to manage the point of sale or receivables payments in their Passport financial account in more ways. The integration offers Treasure’s higher-yielding investment capabilities and leverages the modern payables tools of Passport to optimize working capital on a single platform.
“We are on a mission to change the way businesses, large and small, think about their payment solution providers by providing technology and services as revenue accelerators to grow their businesses and drive efficiency in their operations, and not as another cost center,” noted Thomas Priore, Chairman and CEO of Priority.
At a time when operational efficiency and capital management optimization for businesses of all sizes remains paramount, the combination of Priority’s payments and banking capabilities and Treasure’s investment platform are disruptors to traditional business banking and cash management strategies. Each portfolio is actively managed by Treasure’s expert in-house investment team. Advanced algorithms help guide a thoughtful investment approach to cash management and yield generation.
“The inclusion of Treasure’s capabilities into our unified commerce engine and treasury service offering brings us to the next level with cutting-edge cash management solutions,” states Al Acevedo, Senior Vice President of Treasury Services at Priority. “We are excited to launch this investment offering into our SMB, B2B and Enterprise channels so that our 800+ thousand customers may access a variety of investment and treasury management options from our trusted partner directly from their Passport account,” added Acevedo.
“We are proud to partner with Priority to leverage the Treasure API and embed our corporate-grade cash management offering directly on the Priority Passport platform. This partnership is a testament to Treasure’s capabilities and will enable Priority’s customers to constantly maximize the yield on their idle cash without leaving the platform. This first-of-its-kind embedded finance partnership between Treasure and Priority is a huge step forward for the payments industry,” said Ben Verschuere, Co-Founder and Chief Investment Officer of Treasure Financial.
ISOs, ISVs, finance professionals, and businesses interested in learning more about the Treasure and Priority partnership should contact their Priority representative or visit PriorityCommerce.com.
About Priority Technology Holdings, Inc
Priority is a solutions provider in Payments and Banking as a Service (BaaS) operating at scale with 820K active customers across its SMB, B2B and Enterprise channels. Priority processes $118B in annual transaction volume and provides administration for $850M in average daily deposits. Priority’s purpose-built technology enables clients to collect, store, borrow and send while providing customers acceptance of AP payment applications and Passport financial tools that best optimize their cash flow and maximize working capital.
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Fintech
KBRA | December 08, 2023
KBRA assigns preliminary ratings to four series of notes issued by APL Finance 2023-1 Designated Activity Company and APL Finance 2023-1 LLC (together, Ashland 2023-1), an aviation loan ABS transaction. Ashland 2023-1 represents the inaugural aviation loan ABS transaction that is sponsored and serviced by Ashland Place Finance LLC (APL or the Company). The Company is owned by Davidson Kempner Capital Management LP (DKCM), and, together with DKCM, is comprised of over 500 individuals operating out of seven offices with headquarters in New York City.
Proceeds from the Notes will be used to acquire a portfolio of 11 loan facilities (the Facilities) comprised of 26 loans (the Assets, and together with the Facilities, the Portfolio). The 11 Facilities are limited recourse facilities. As of October 31, 2023, the Portfolio has an initial aggregate loan balance of approximately $350.8 million, an average Asset balance of $13.5 million, and a weighted average remaining loan term of approximately 2.8 years. The Portfolio has a weighted average seasoning of 18 months.
The Facilities are secured by 19 narrowbody aircraft (56.4%), three widebody aircraft (40.0%) and four narrowbody host aircraft engines (3.6%) (the Underlying Collateral) on lease to 12 lessees located in 11 jurisdictions. As of October 31, 2023, the Underlying Collateral has a weighted average age of 10.0 years (excluding the engines) and an initial appraised value of approximately $612.2 million based on the average of half-life base values provided by three third-party appraisers as of the second quarter of 2023.
Disclosures
Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.
A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.
Information on the meaning of each rating category can be located here.
Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.
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Investments
PrimeLending | December 07, 2023
National residential mortgage lender PrimeLending, a PlainsCapital Company (PrimeLending), proudly offers Green Home Loans, a range of mortgage solutions for homeowners who want to finance environmentally beneficial upgrades to homes they are purchasing or already own.
Energy efficient upgrades not only reduce a home’s carbon footprint, they also can increase property values and save money over time. Energy efficiency is a growing concern for American homeowners according to a 2023 study by Thumbtack1 that found 71% of homeowners said sustainability is absolutely a priority for this year’s home projects, yet nearly one-third (32%) still consider sustainable, energy efficient home upgrades too expensive.
“Green Home Loans are a huge win for PrimeLending customers by helping to remove financial obstacles to making energy efficient upgrades,” said Tim Elkins, Chief Production Officer at PrimeLending. “We are committed to offering mortgage solutions that align with our customers' goals, such as saving money, increasing property value, and protecting the planet.”
PrimeLending’s Green Home Loans are mortgage solutions that allow borrowers to finance certain green improvements, such as:
Energy-efficient windows and doors
Solar panels or solar-powered appliances
Roof, floor, or wall insulation
Energy-saving HVAC systems and appliances
PrimeLending’s Green Home Loans include FHA, VA, USDA, conventional and renovation loan options and may offer favorable interest rates, repayment terms, and other benefits for the borrower. Consumers can connect with a PrimeLending home loan expert for more information.
About PrimeLending
PrimeLending is a national home lender combining personal guidance and local expertise with fast service, more choices and the flexibility to meet homeowners’ unique needs. PrimeLending is focused on empowering its customers to pursue their homeownership goals, whether they’re looking to buy, refinance, renovate or build a home. The PrimeLending team works alongside our customers in all 50 states, helping them make home financing decisions and have a rewarding experience along the way. PrimeLending is a wholly owned subsidiary of PlainsCapital Bank, which in turn is a wholly owned subsidiary of Hilltop Holdings Inc. (NYSE: HTH). More information at www.PrimeLending.com. Equal Housing Lender. All loans subject to credit approval. Rates and fees subject to change.
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