PrimeCredit closes benchmark HK securitization

Hong Kong island adobe stock 230x150
By Morgan Davis
18 Dec 2019

Hong Kong-based personal loan provider PrimeCredit has issued $200m of asset backed securities, making it the first public term securitization in Hong Kong in more than a decade.

The company's debut ABS transaction, which was sold through Ocean Funding 2019-1, was also the first public consumer loan securitization from Hong Kong, and the first AAA- rated personal loan securitization in Asia ex-Japan, according to a press release from sole arranger and lead manager BNP Paribas.

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