Virgin Money spurns FLS to issue RMBS

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Virgin Money spurns FLS to issue RMBS

Virgin Money, the bank that acquired Northern Rock’s performing mortgage book, opened books for its Gosforth 2012-2 on Wednesday. The RMBS transaction shows the publicly syndicated ABS issuance can still make sense despite the cheap funding offered by the Bank of England’s Funding for Lending Scheme (FLS).

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