Investor Presentaiton
U.S. Consumer Loan ABS
✓ We created Consumer Loan ABS asset class in 2013
✓ Asset class has turned from esoteric class to
~$21B2 issuance per year with many issuers
and a liquid secondary supply
✓ Issuer of 29 ABS transactions3
✓ Top tranche rating of AAA
✓ Programmatic issuance of 2, 3, 5, 7-year
revolving transactions
2015 | $5.7B
OneMain
48%
2017 | $12.5B
OneMain
13%
Springleaf
26%
Issuance ($B)
286420 80 6420
18
16
14
12
10
Consumer Loan ABS new issue supply (2013-2023)1
2013 2014
2015
2016
2017 2018
2019 2020 2021
2022 2023
YTD
2019 | $14.0B
OneMain
17%
Issuance ($B)
# of Deals
2021 | $18.0B
OneMain
5%
OneMain Financial.
Major differences in business model, underwriting, servicing across CL issuers
1. Source: RBC Capital Markets. Data as of September 8, 2023.
2. $21B figure represents annualized September 8, 2023 $15B market.
3. As of September 30, 2023, includes SLFT securitizations.
60
10
2543220
# of Deals
2023-YTD $15.0B
OneMain
13%
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