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.
