Rare subprime credit card issuer heads to market

Visa wallet flickr 230x150
By Sasha Padbidri
06 Dec 2017

A subprime credit card securitization from Continental Finance surfaced this week to give the yield-hungry something to chew on. But few similar servings are likely to follow given the lack of subprime debt available to be securitized since the financial crisis.

Continental filed ABS-15G documents with the Securities and Exchange Commission on Tuesday for its upcoming deal, Continental Credit Card ABS 2017-1. Natixis is the sole lead, according to the deal documents.

Continental made its ABS debut last December, bringing a transaction with a weighted average credit ...

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