Springleaf's (a JV between FIG and AIG) pricing of  $604M securitization of subprime personal...

|By:, SA News Editor

Springleaf's (a JV between FIG and AIG) pricing of  $604M securitization of subprime personal loans (average balance: $3.5K, interest rate: 20%-36%) reportedly drew strong demand this week. It's the first such ABS in 15 years. Springleaf has its own financial worries, though they've been recently eased with some fancy trading by the experts at Fortress.