Avant, a regular issuer of marketplace loan securitizations in the US, has secured a warehouse line for its UK operations with Deutsche Bank and Ares Management, suggesting a debut European ABS deal could potentially follow.
The SPV vehicle, AvantCredit of UK Warehouse SPV I, features £20m of class A notes and £5.85m of class B notes, with a further £7.62m of variable funding notes. Deutsche Bank is facility agent, with the deal signed by three bankers in the structured credit group, while Ares
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