OneMain Financial Performance Overview
OMFIT 2019-2 overview
Capital structure
Class A
$651,320,000
68.75%
Class B $91,420,000
9.65%
OMFIT 2019-2 represents the 14th transaction from the OMFIT shelf since the
program's inception in 2014
First OneMain deal utilizing a horizontal residual interest for US Risk Retention
and compliant with new EU Risk Retention requirements¹
The Notes issued from a discrete trust with a 7-year revolving period
•
Concentration limits govern loan eligibility
Notes subject to optional redemption on or after the Payment
Date in October 2026, coinciding with the end of the revolving period in
September 2026
If optional redemption not exercised, the Notes will amortize sequentially
Credit enhancement will consist of subordinated notes, overcollateralization,
a cash reserve account and excess spread
Total Hard Credit Enhancement (% of Assets):
Class A: 31.75%
•
Class C $59,210,000
6.25%
Class D
$98,050,000
10.35%
Initial OC $47,374,174
5.00%
Reserve Account
0.50%
$4,500,000
OneMain Financial
-
Class B: 22.10%
Class C: 15.85%
-
Class D: 5.50%
In addition, initial excess spread for the transaction is estimated to be 20.07% per annum
1. Article 6(3)(d) retention/No Article 7 compliance.
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