Latitude Australia Credit Card (Series 2017-1): 12 April 2017

The ultimate source of payment on the Series 2017-1 Notes will be collections on a portfolio of designated credit card accounts originated or acquired by Latitude Finance Australia or an Existing Owner in Australia. The Receivables arising on these credit card accounts will be purchased by the Trustee, subject to certain criteria being satisfied. The Trust Assets will be available to meet the liabilities of the Trustee including making payments under the Series 2017-1 Investor Interest Note.

The securitised portfolio will comprise Receivables existing and arising from accounts in the Latitude Group’s Australian sales finance credit cards and credit card business. The accounts within the securitised portfolio will include those that were originated by the GE Capital Australia consumer finance business that was acquired by the Latitude Group in November 2015 and those subsequently originated by Latitude Finance Australia.


CRR 405: Latitude Finance Australia as Transferor will be the originator of the securitisation for the purposes of EU Regulation 575/2013 and EU Regulation 231/2013 and confirms that it will retain a material net economic interest of not less than 5% of the nominal value of the securitisation (such retention being in the form of the variable funding note issued by the Loan Note Trustee to the Transferor on or about the Closing Date).