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Laser ABS 2017: 19 March 2017

The Issuer will make payments on the notes from a portfolio comprising receivables originated by Creation Consumer Finance Limited.

CCFL was incorporated in Northern Ireland and is a wholly owned subsidiary of Creation Financial Services Limited (CFSL). CCFL and CFSL trade under the names "Creation" and BNP Paribas Personal Finance (BNPPPF). Between these two companies, Creation issues credit cards, store cards, personal loans and retail finance to customers directly and through well-known high street retailers. Credit cards and store cards will not constitute part of the eligible receivables. CCFL offers retail finance for many well-known high street retailers, insurance brokers, motor finance companies and home improvements organisations. It also offers personal loans. CCFL has provided its services to over 4 million customers in the UK and in 2016 it financed £1.2 billion in credit.

The portfolio is highly granular and consists of 407,637 contrasts. Product type (by no. of contracts/outstanding balance): IFC 309,839/62.68%, Personal Loans 30,852/30.00%, IBC 48,494/3.92%, DIFC 18,452/3.41%. The average current balance is £1,398 and the largest is for £20,207. The WA seasoning is 11.59 months. Regional breakdown: North East England – 17.71%, The Midlands – 15.55%, North West – 13.90%, East Anglia – 12.24% and the South East – 11.33%.

Significant Investor: The originator will on the closing date purchase 100% of the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

CRR 405: The Originator will retain for the life of the transaction a material net economic interest of not less than 5% in the securitisation in accordance with the text of each of Article 405(1) of Regulation (EU) No 575/2013 and Article 254 of Regulation (EU) No 2015/35. As at the Closing Date such interest will be comprised of the Originator holding no less than 5% of the nominal value of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes.

Compare/contrast: Towd Point Mortgage Funding 2016-Granite3 Plc, Marketplace Originated Consumer Assets 2016-1, Orbita Funding 2016-1 Plc