Barclays to sell first credit card ABS in two years

Barclays credit card
By Tom Porter
15 Jul 2014

Barclays will sell the first securitization of credit cards from its Gracechurch programme since June 2012 by the end of this week, in the latest sign that the UK ABS supply freeze may be thawing with the impending absence of cheap funding from the Bank of England.

It will be only the third UK credit card ABS issue of 2014, following a deal from Lloyds’ Penarth platform in April and Tesco Bank’s debut card securitization last month, which both demonstrated investor appetite for longer dated paper in the product.

But even this meagre tally has ...

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