NewDay cards mean sterling ends on a high

By Tom Porter
11 Dec 2014

UK credit and store card provider NewDay priced what is likely to be the last sterling denominated ABS of the year this week, ensuring the currency ends the year on a high after a tricky run in recent weeks. The deal also offers hope of increased issuance next year for UK credit card ABS.

Arranger Royal Bank of Scotland and fellow lead managers Citi, Deutsche Bank and Santander priced the inaugural £300m NewDay Partnership Funding 2014-1 on Wednesday, placing the top four three year tranches with investors and retaining the bottom two.

The £222.3m Class 'A' notes were priced at 75bp over ...

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