Today we announced that the senior tranche of a new securitisation of loans originated through Zopa has been rated AAA, the first ever pure P2P securitisation to achieve a AAA rating at issuance.
The £245m securitisation was arranged by Deutsche Bank, and
jointly led by Deutsche Bank and Standard Chartered.
It is the third securitisation of loans originated through
the Zopa platform, and reflects the market’s confidence in Zopa’s ability to
originate high quality loans, its approach to underwriting, and credit risk
management. The transaction underlines the strong performance of Zopa’s asset
To date, Zopa Limited has facilitated £5bn (£4.95bn) in
unsecured personal loans to UK customers, making it the largest European
consumer peer-to-peer lending platform by amount lent. Zopa Limited pioneered
the peer-to-peer lending model in 2005, and more recently Zopa established a
bank entity in order to broaden its customer proposition and product set.
Zopa’s bank currently has a licence with restrictions.
Jaidev Janardana, CEO of Zopa, commented: “Our ability to
originate high quality loans continues to make the Zopa investment proposition
an attractive and distinctive asset class for both institutional and retail
investors. To receive the first ever AAA rating globally for a P2P
securitisation is further endorsement of investor and market confidence in our
origination and underwriting capabilities.”
This transaction follows the recent decision from both
Moody’s and DBRS Morningstar to upgrade the ratings of the second
securitisation of Zopa loans (Marketplace Originated Consumer Assets 2017-1
Zopa offers unsecured personal loans and secured car finance
online to low risk UK customers. It has 60,000 retail investors and a selection
of institutions who lend through the platform.
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