Near prime Precise Mortgages piques UK investor interest

Charter Court Financial Services’ first securitization of non-prime UK mortgages, Precise Mortgage Funding No1, attracted strong demand from investors. The borrower plans to use the RMBS market regularly.

  • By Joseph McDevitt
  • 22 Nov 2013

Arranger and sole lead manager Credit Suisse started testing investor appetite at the end of last week at initial price thoughts of 110bp-120bp over three month Libor for the £134.5m of triple-A rated ‘A’ notes. The tranche has 21.10% credit support and 3.8 year weighted average life.  

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.13%
2 Bank of America Merrill Lynch 91,648.43 266 12.13%
3 Wells Fargo Securities 72,661.39 222 9.61%
4 JPMorgan 52,367.24 169 6.93%
5 Credit Suisse 41,885.89 127 5.54%