Jefferies tightens price talk on Lending Club trade

摘要

Jefferies on Thursday narrowed price talk on its revived bond deal of Lending Club loans, which was shelved for two months after trouble erupted at Lending Club, two investors said. Jefferies was testing investor interest at 3.75% yield for the top US$88m class of 0.75-year notes after tightening it to 4% from talk of 4.25%, one investor said on Thursday. Its smaller US$16.9m class of 2.3-year notes was being shown at a 6.5% yield, versus talk of 7%. The investor attributed the trade's momentum to the market's recent "risk-on" tone and said its traction came as a surprise given the deal's lack of credit ratings and lingering uncertainties around Lending Club.