Investors oversubscribe LendingPoint consumer loan ABS

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By Jennifer Kang
23 Aug 2019

Online consumer lender LendingPoint closed its first ever rated securitization backed by unsecured, near-prime loans, and sources familiar with the transaction said the bonds were "multiple times" oversubscribed by investors.

The $117.76m class 'A' notes were launched at 125bp over euro dollar spot forward, while the $25.74m class 'B' notes were launched at 205bp over. The 'C' tranche was launched at 305bp over interpolated swaps and the 'D' tranche at 480bp over. Guggenheim was the sole structuring agent ...

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