Premium finance debut ABS lined up

Category: ABS

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Premium Credit is bringing to market is first term ABS, an unusual deal backed by premium finance contracts (see SCI's deal pipeline). While the size of the deal has yet to be confirmed, both Moody's and DBRS have assigned triple-A ratings to the senior notes.

PCL Funding II Series 2017-1 is a three-year revolving cash securitisation of non-life insurance premiums, sport and leisure membership fees, professional membership fees and private school tuition fee plans.

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