Jefferies is rumoured to be helping revive Reuters’s hindered loan securitisation via a bond deal that is being pre-marketed to select investors, according to buyside sources quoted by Lending Club. The bond, worth around $140m, was put on hold upon the resignation of Reuters’s CEO back in May, and Jefferies is now said to be considering selling a two-tranche trade that is predicted to offer yields between 4.25% and 7%. The sources added that the top class note of less than one year is approximately 60% subscribed, while the longer two-year note was said to be fully covered. If the deal is successful, it is thought that Goldman Sachs may revive its own Reuters bond deal.
Jefferies is rumoured to be helping revive Lending Club’s hindered loan securitisation via a bond deal that is being pre-marketed to select investors, according to buyside sources quoted by Reuters. The bond, worth around $140m, was put on hold upon the resignation of Lending Club’s CEO back in May, and Jefferies is now said to be considering selling a two-tranche trade that is predicted to offer yields between 4.25% and 7%. The sources added that the top class note of less than one year is approximately 60% subscribed, while the longer two-year note was said to be fully covered. If the deal is successful, it is thought that Goldman Sachs may revive its own Lending Club bond deal.