secwatch.observer — SEC 8-K summary
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Issuer:     NewtekOne, Inc. (NEWT)
CIK:        0001587987
Form:       8-K
Filed at:   2023-06-14T23:59:59+00:00
Accession:  0001587987-23-000128
Event type: debt
Sentiment:  positive
Materiality: 0.60
Item codes: 2.02, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NewtekOne closes $103.9M SBA 7(a) loan securitization, its 12th rated by S&P
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- Offered $84.27M Class A (A- sf) and $19.59M Class B (BBB- sf) notes; 79.5% advance rate.
- Class A priced at lesser of 30-day SOFR+300bp or Prime-50bp; Class B at SOFR+425bp or Prime+75bp.
- CEO: collateral portfolio has weighted-average coupon of 11.05%, bond coupon 7.86%, net interest margin 3.19%.
- Newtek Bank began funding SBA 7(a) loans in April 2023; NSBF in run-off mode and winding down.
- Deutsche Bank and Capital One Securities acted as joint book-running managers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000128/0001587987-23-000128-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1587987/000158798723000128/newt-20230614.htm
  HTML page:      https://secwatch.observer/filing/0001587987-23-000128

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