Landmark Funding Circle ABS makes it home with German agency support

Funding Circle
By David Bell
03 May 2016

Deutsche Bank bundled Europe’s debut marketplace loan securitization over the finish line last Friday in a milestone for the industry. But the new asset class is a divisive topic in the European ABS market, writes David Bell.

The £129m ($186.69m) deal, SBOLT 2016-1, is backed by British small and medium enterprise (SME) loans originated on the Funding Circle platform and was brought to the market by US firm KLS Diversified Asset Management. The deal had been in the pipeline since December 2014.

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