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.

  • 17 May 2013

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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