The deal continues BHG's more recent streak of securitizing loans collateralized exclusively by consumer loans. The deal is the program's sixth term 144A securitization backed by consumer loans.
There is an optional redemption feature, which allows certificate holders to redeem the notes on any day on or after the fifth business day before the monthly payment date in July 2028.
Credit enhancement builds over time and includes non-declining overcollateralization at 5.00% of the initial adjusted pool balance, and a reserve fund that represents 0.25%.