US buyers clamour for Virgin RMBS
Virgin Money’s first prime UK RMBS deal of the year was well received by domestic buyers, but demand was particularly healthy in the US, with the dollar tranche of the deal heavily oversubscribed.
The $421m senior dollar denominated notes of Gosforth 2017-1 were 2.3 times oversubscribed by 25 separate accounts. The bonds were priced at 47bp over three month dollar Libor.
“I think it is fair to say that with this tranche being the first since TFS in the dollar market,
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