ABS bankers hail West Brom UK RMBS re-opening
The first UK prime residential mortgage securitisation to emerge this year — West Bromwich Building Society’s Kenrick No 2 — was welcomed with open arms by London-based professionals this week, who predicted solid demand for the notes given the lack of paper in the market.
JP Morgan is sole lead manager and arranger on Kenrick No 2, which securitises a pool of prime owner-occupied mortgage loans originated to borrowers in the UK. The three year £380m class A tranche was offered to investors in a roadshow this week.
The £40m 5.15-year class B
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