OneMain upsizes consumer loan ABS
Citigroup subsidiary OneMain Financial launched its first consumer loan securitization of the year on Wednesday, upsizing the deal from to $1.229bn from its initial target of $737.5m.
Most of the increase was for the senior tranche which now totals $899m. The top class was priced at 210bp over swaps, within guidance. Standard & Poor’s assigned the senior notes a preliminary single-A rating.The notes are backed by 126,438 loans with an average principal balance of ...
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