Prospect on the road with Lending Club ABS offering

Lending Club
By Sasha Padbidri
29 Sep 2016

Prospect Capital is in the market with a private unrated ABS offering backed by seasoned Lending Club loans, said sources speaking with GlobalCapital on the sidelines of the American Banker Marketplace Lending + Investing conference in New York on Tuesday.

American Consumer Lending Holdings, a subsidiary of the New York-based Prospect Capital has purchased the near-prime loans and is issuing the transaction, according to two people with knowledge of the deal. 

Morgan Stanley is the sole lead of the $243.45m deal, which has been sized into two tranches. ...

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