Global Capital: Pet supply whole biz securitization shelved

Pet Supplies Plus cancelled its $330m inaugural whole business securitization backed
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Original article by Jennifer Kang

 

Pet Supplies Plus cancelled its $330m inaugural whole business securitization backed by franchise fees and company profits, as investors struggled to get comfortable with relatively lower percentages of franchise fees in the deal, reported Global Capital.

 

While the deal is currently on hold, market participants feel that Pet Supplies Plus will likely try again when the market turns friendlier.

 

“In September, if this recent spate of volatility across equity and other risk assets fade, you may certainly see Pet Supplies Plus come back,” said Senior Portfolio Manager Jake Remley, of Income Research + Management. “They may restructure slightly, maybe add more enhancements, tweak it shorter – they’re gonna be taking the feedback they got to make it work.”

 

Read the full article here (paywalled).

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Data provided as of January 2, 2024
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