BNPP subsidiary lands debut UK consumer ABS deal

By David Bell
08 Mar 2017

Creation Consumer Finance, an indirectly owned subsidiary of BNP Paribas Personal Finance, sold a debut consumer loan ABS deal on Wednesday. The £570m ($694.44m) transaction was the first bank-originated UK consumer loan deal to be seen in several years.

Creation sold the senior £430m ‘A’ class of LaSer ABS 2017 at 63bp over one month Libor. The tranche has expected triple-A ratings from Fitch and Moody’s and carries credit enhancement of 24.6%, with a 1.82 year weighted average ...

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