Belmont Green prices debut RMBS

UK mortgage lender Belmont Green priced its debut £243.5m RMBS deal late on Thursday, with the bonds heavily bid at the mezzanine level of the capital stack.

  • By Sam Kerr
  • 13 Oct 2017

Belmont sold the £189.2m of senior notes from Tower Bridge Funding No. 1 at 100bp over three month Libor, with the notes 1.5 times covered. The double-A rated ‘B’ notes were sold at £160bp over.

Investors, however, piled into the ‘C’, ‘D’ and ‘E’ bonds, which were 3.5, ...

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