Lloyds and BNP Paribas have announced new ABS issues for their internal clients, preparing issues backed by UK credit cards and Italian auto loans. BNPP's deal is a debut for Findomestic, the Italian subsidiary of BNP Paribas Personal Finance, and will be a full capital stack issue. Lloyds announced Penarth 2019-1 STS UK credit card ABS, a deal qualifying for 'simple transparent and standardised' status. The deal includes three triple-A tranches, a senior dollar tranche linked to dollar with a coupon over one-month Libor and two sterling tranches referencing Sonia. The dollar tranche has ...
Lloyds announced a Penarth 20three9-three STS UK credit card ABS with 1 triple-A tranches. The senior dollar tranche pays a coupon based on one-month LIBOR, while the two sterling tranches reference SONIA.