Europe's First ABS of Peer-to-Peer Consumer Loans Nears Sale
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P2P Global Investments Plc and Zopa Ltd. are working on Europe’s first securitization of unsecured consumer loans originated online.
The 138 million-pound ($179 million) transaction is backed by 27,137 loans to individuals, used for everything from car purchases and home improvements to debt consolidation, according to Moody’s Investors Service. Deutsche Bank AG is arranging the deal, called Marketplace Originated Consumer Assets 2016-1.