Yes very positive, but this "warehousing" funding was flagged quite a while ago. It should help the share price and we could be profitable in the near future.
Banks do this securitisation ,not so much for cheaper funding, but in their case more to create balance sheet space.
Prior to this type of deal WZR were plainly borrowing(expensive) from banks.
I too am surprised with the AAA given they have a bigger percentage of unsecured loans;I guess the assets in the warehouse have been discounted at a larger %.
Ann: WZR Prices Inaugural ABS Transaction with AAA Rating, page-5
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