UK government unveils £12bn student debt securitization plan
The UK government has formally unveiled plans to sell off £12bn of student loans in a series of securitization deals, launching a brand new asset class of ABS backed by income contingent student loans.
The deal, which is expected to be backed by around £4bn of loans, will be the first sale of “income contingent repayment” (ICR) student loans, under which borrowers repay 9% of their earnings above a £17,495 threshold.Barclays has been mandated as sole arranger on the transaction. ...
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