Lloyds to re-open UK credit card ABS with Penarth

Lloyds Bank will bring the first UK credit card securitization this year, after announcing a $750m no-grow deal from its Penarth shelf.

  • By Joseph McDevitt
  • 12 Nov 2013
Penarth 2013-1 will offer notes from a $750m triple-A rated ‘A1’ tranche with 17.50% credit enhancement and 1.99 year weighted average life. Lloyds will retain a £1.3bn triple-A rated ‘A2’ tranche, with 17.50% credit enhancement and 3.99 year WAL. The ‘A2’ tranche has also ready been priced at ...

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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

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