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A subprime credit card securitization from Continental Finance surfaced in the pipeline this week to give the yield hungry something to chew on. But few similar servings are likely to follow given the lack of subprime debt available to be securitized since the financial crisis.
The company filed ABS-15G documents with the Securities and Exchange Commission on Tuesday for its upcoming deal, called Continental Credit Card ABS 2017-1. <b>Natixis</b> is the sole lead, according to the deal documents.
Continental made its ABS debut last December, bringing a transaction with a weighted average credit score of 624, with the senior...