Rare subprime credit card issuer heads to market

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.

  • By Sasha Padbidri
  • 06 Dec 2017

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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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 23,326.04 65 12.05%
2 Bank of America Merrill Lynch 22,492.36 58 11.62%
3 Wells Fargo Securities 17,497.83 53 9.04%
4 JPMorgan 13,323.94 44 6.88%
5 Credit Suisse 10,691.12 19 5.52%