It seems almost inconceivable that just a few years ago the corporate securitization market was a dull backwater in which the odd tap issue was about as exciting as things were likely to get. In the past couple of years the surge in LBO activity has dragged this concept along in its wake, and it is now at the cutting edge of the market – the place to be and to be seen. Even last year’s trailblazers, such as the $1.7 billion franchise receivables securitization for Dunkin’ Donuts and the Hertz LBO refinancing, now seem like ancient history. The...
