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Whole business securitisation - Unlike a traditional securitisation or where institutions sell pools of their loans to a special-purpose vehicle, or SPV, in a whole business securitisation (or WBS or corporate ABS), there is no sale of assets to the SPV. Instead of purchasing the pool of assets, the SPV makes a loan to the borrowing company and takes security for that loan over the pool of assets retained by the borrowing company. Further, in a whole business securitisation, the SPV will not be an orphan company but will be a member of the originator?s corporate group.
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