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.
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 ...Already a subscriber? Login