CompuCredit gets 40% discount for distressed loans

As troubled issuers continue to seek liquidity in unlikely fashions, Providian Financial announced last week that it would sell $2.6 billion of troubled loans, roughly half to rival credit card issuer CompuCredit Corp. and the other half in a novel securitization, scheduled to hit the primary market next week (see structure below).

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.