El Corte Ingles places Spanish consumer loan securitization
In an encouraging sign for peripheral borrowers, the consumer finance arm of Spanish company El Corte Ingles has successfully placed €600m of bonds backed by a portfolio of in-store consumer loans.
Secucor Finance 2013-1 is a debut securitization for El Corte Ingles, which owns large department stores across Spain under various brands.
The finance arm of El Corte Ingles offers four types of in-store credit for customers, all of which are eligible for Secucor’s pool. These are: FSC
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