NewDay increases ABS, removes dollar tranche

By Tom Brown
30 Sep 2020

Cinven and CVC-owned issuer NewDay has priced its largest ever deal, increasing NewDay Partnership Funding 2020–1 by £100m and removing the Sofr-linked dollar tranche from the transaction.

Bank of America, Santander, BNP Paribas and SMBC Nikko arranged the consumer loan securitization.

Multiple investor accounts had booked £139m ($179.22m) worth of pre-orders for the 3.1-year senior tranche, as well as for two thirds of the class ‘B’ and ‘C’ tranches, and one third of the ‘D’ ...

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