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NewDay is a leading UK consumer finance provider, specializing in the near-prime and co-brands sectors of the UK credit card market. As of September 30, 2016, they had approximately 5.6 million customers in the United Kingdom and £1,620.8 million of gross receivables. New Day has two primary businesses, each of which focuses on specialist credit offerings within a different sector of the consumer credit market. i) Own-Brands: New Day provides credit cards designed to meet the needs of customers in the near-prime sector of the UK credit card market. New Day have issued credit cards in the Own-Brands business since 2002 and currently offer products under our aqua and marbles brands ii) Co-Brands: In the Co-Brands business, which they acquired from Santander UK in May 2013, New Day partner with well-known retail and consumer brands including Debenhams, House of Fraser, Laura Ashley and the Arcadia Group (namely, Topshop, Topman, Dorothy Perkins, Miss Selfridges, Wallis, Burton, Outfit and Evans) to provide co-branded credit cards and store cards to their partners’ customers. Based on the observed credit performance of the overall portfolio, they classify the Co-Brands portfolio as a prime portfolio. As of September 30, 2016, the Co-Brands business represented 38.8% of our gross receivables. New Day have recently partnered with the travel and tourism company, TUI, to launch the Thomson Credit Card and the online retailer, Amazon, to launch the Amazon Platinum Mastercard.
The company currently has no outstanding notes.
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