NewDay includes Sonia clause in card ABS
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SecuritizationABS

NewDay includes Sonia clause in card ABS

PD

NewDay, the UK storecard lender, has announced a securitization in either or both of dollars and sterling, in which the interest rate might be linked to Sonia, the Sterling Overnight Index Average. The announcement came as the secondary ABS market tightened markedly.

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