Funding Circle looks set for its sixth securitisation of UK peer-to-peer business loans.
Official filings show a £223.4m securitisation – the SBOLT 2021-1 STS UK SME Loan ABS – of Funding Circe loans is being arranged by Deutsche Bank.
It is set to complete on 16 November and the majority, £138m of its notes, are class A.
It was part of Waterfall’s £1bn investment in the P2P lender at the time.
The latest deal takes the number of global securitisations to eight.
Funding Circle’s last one in the US – the Small Business Lending Trust 2020-A (SBIZ 2020-A) was worth $252m (£194m).
It comes after DBRS Morningstar last month upgraded a portfolio of Funding Circle loans that were securitised in 2019.
The loans were packaged in the third version of its Small Business Origination Loan Trust, issued in 2019.
DBRS Morningstar has upgraded the ratings on the Small Business Origination Loan Trust 2019-1 DAC class B notes from A to AAA.
The class C notes have been upgrade from BBB to AAA and the class D notes have gone from BB to D.
The ratings agency said the bonds have been reviewed based on better portfolio performance.