Nationwide Rolls Out £14 Bln RMBS

Nationwide, the U.K. building society, has structured a huge £14 billion ($26 billion) residential mortgage-backed securitization.

  • 18 Sep 2008
--Alex Sebastian

Nationwide, the U.K. building society, has structured a huge £14 billion ($26 billion) residential mortgage-backed securitization. Silverstone Master Issuer Series 2008-1 is the first securitization from the new Silverstone master trust.

The notes are being issued in a single class A series rated AAA by Fitch Ratings. ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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1 Citi 96,825.42 274 13.25%
2 Bank of America Merrill Lynch 88,553.28 260 12.12%
3 Wells Fargo Securities 69,233.98 214 9.48%
4 JPMorgan 51,109.98 163 6.99%
5 Credit Suisse 41,447.11 125 5.67%