Lloyds fuels hope of better year for UK credit cards with new Penarth transaction

By Tom Porter
03 Apr 2014

UK credit card ABS issuance has kicked off much earlier this year than last, with Lloyds set to price a new sterling-denominated deal from its Penarth platform on Friday.

Lloyds has hired its own investment bank as sole arranger and lead manager on Penarth 2014-1, and offered two triple-A rated tranches to investors after a London roadshow early this week.

UK credit card securitization activity has been scant for the best part of two years. Penarth 2013-1, ...

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