Debut ABS from Citigroup subprime unit shows revival of riskiest lending

Citigroup unit OneMain Financial, which was recently rumoured to be up for sale, is preparing a debut $500m consumer loan ABS backed by nonprime collateral. The deal, which follows a $592m ABS from Fortress Investment Group’s Springleaf Financial last month, highlights strong investor demand for higher-yielding and riskier credit.