Citizens Financial Group Inc. plans to sell more bonds backed by prime auto loans following its first such deal last week as it pulls back from lending to auto buyers, according to people familiar with the matter. The firm on June 23 priced a $1.5 billion asset-backed security. Citizens increased the size of the deal from $750 million due to strong demand from investors, according to deal sources. Citizens Financial, which owns Citizens Bank, plans to issue around three to five more bonds...

Bayview Asset Management, an investment firm known for its focus on mortgages, debuted in the auto bond market this year, selling one of the largest auto asset-backed securities deals ever last week. The company has sold three auto bonds — which repackage car loans into securities of varying risk and size — with the latest being one of the largest in history: a $4.6 billion offering exceeded only by bond sales from Ford Motor Co. and Bank of America Corp. in the 2000s, according to data...

A fintech platform looking to transform the trading of leveraged loans by doing away with phone calls launches Tuesday, the latest in a series of firms that aim to modernize the market. Octaura Holdings is an electronic platform that allows traders to buy and sell loans in the secondary market. It also offers analytics tools and later plans to add trading of collateralized loan obligations. The company is one of several financial technology firms seeking to modernize various aspects of...

Elon Musk’s efforts to cut costs at Twitter Inc. are hitting an obscure group of investors: holders of bonds tied to the company’s headquarters building in San Francisco. Twitter hasn’t paid rent on its headquarters, or any of its other global offices, in weeks, the New York Times reported on Dec. 13. Its main office at 1355 Market Street in San Francisco has a mortgage that was packaged into a $400 million bond in 2015. Prices on one portion of the bond dropped to about 85 cents on the...

Peloton Interactive Inc. founder and Chief Executive Officer John Foley’s stint as a billionaire has ended, at least for now. Foley’s net worth fell to about $850 million Friday as shares of the fitness-equipment maker tumbled as much as 34% Friday, after the company cut its annual revenue forecast by as much as $1 billion. Enjoying Bloomberg Wealth? To read more articles based on your personal financial goals, answer these 3 questions that will tailor your reading experience. Peloton, once a...