November 6, 2017 / 4:42 PM / 11 days ago

Close Brothers brings Orbita Funding 2017-1 - UK Auto ABS

    LONDON, Nov 6 (IFR) - Originator, Seller & Servicer: Close
Brothers Limited
Joint Arrangers & Lead Managers: HSBC, Lloyds Bank 
 
    
 Cls     Sze    Rtings    CE    WAL   Cpn       Status
 A       84.5   Aaa/AAA   16.5  2.11  1mL+      Offered
 Sub     15.5   NR        1.0   N/A   Fxd       Retained
         
* CE includes note subordination (15.5%) and liquidity reserve
(equivalent to (1.0)% of the initial portfolio balance)
** (20)% p.a. CPR, (12) month revolving period, (0)% default and
delinquency, among others
 
The Originator may retain a portion of the Class A notes
 
-------------------
Roadshow Wed 8th / Thu 9th Nov; meetings and/or calls available
on request.
-------------------
 
- Pricing expected early w/c 13th November
- Expected Settlement Date: (23 Nov 2017)
- First IPD: (16 Dec 2017)
- (10)% Clean-up Call option
- Legal Final Maturity: (16 Oct 2024)
- Minimum denominations: (£100,000 + £1,000) 
- Registration: Reg S Registered only
- Listing: Irish Stock Exchange
- Application will be submitted for the Class A Notes to be
BoE-eligible
- Marketing Materials: Investor Presentation, Preliminary
Prospectus, Term Sheet, Data Pack
- Modelling: Intex  , ABSNet  ,
Bloomberg (ORBTA 2017-1)
- Billing and Delivery: Lloyds Bank
- Class A Identifiers:
ISIN: XS1698935191
Common Code: 169893519
 
Provisional Pool Overview: (100)% UK fixed-rate auto loan
agreements, consisting of Private (79.4)% and Corporate (20.6)%
borrowers; (71.9)% Cars, (24.7)% Light Commercial Vehicles, and
(3.4)% Motorbikes; (81.8)% conditional sale/hire purchase and
(18.3)% PCP loans; South East including London (14.8)%, Scotland
(7.1)% and N. Ireland (5.3)%; New (12.4)%/Used (87.6)%; WA
Remaining Term (38.6) months; Average Outstanding Balance
£(7,038).
F




  

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