Dutch arm of CredAg Consumer Finance sells consumer loan ABS

Crédit Agricole Consumer Finance Nederland has privately placed a rare securitization of Dutch consumer finance loans.

  • By Joseph McDevitt
  • 29 Jan 2014

The transaction, Kigoi 2013, offered investors €533.1m of A1/A+ rated (Moody’s/S&P) ‘A’ notes, with 22.6% credit enhancement and 2.41 year weighted average life. Most of the credit enhancement comes from a €155.7m subordinated loan.

The notes were priced at par at a spread of 200bp over one ...

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