Investors queue up for Paragon double- and single-A bonds
Lead managers on Paragon 17, the UK buy-to-let RMBS, say there are a host of investors interested in buying the deal’s class ‘B’ and ‘C’ tranches and expect them both to be fully placed.
The £200m deal comprises a £175m triple-A tranche, a £10.5m double-A B tranche, a £10m single-A C tranche, a £4.5m unrated tranche and a £6m first loss reserve fund.
Paragon will retain the unrated £4.5m junior tranche. With that, the deal complies with Article 122a in the Capital
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