Latest Funding Circle Securitization Prices at a Significantly Tighter Spread

The second Funding Circle securitization comprises of a £207m portfolio of small business loans issued by investment trust P2P Global Investments. The senior tranche has priced at 75 bps over one month Libor which is 145 bps tighter than the 220 bps over Libor in the last securitization. German development bank KfW bought a significant portion of the senior tranche, with a guarantee from the European Investment Bank. The deal was rated by Moody’s, DBRS and Kroll. Source.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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