Kensington to raise up to £616m as buyers warm to MBS

UK homes
By Jon Hay
04 Jan 2018

Kensington Mortgage Co was close behind Vauxhall Finance on Thursday in announcing its first securitization of 2018. The issuer declared its fifth Finsbury Square issue to fund an existing mortgage portfolio of £431m, plus up to £185m of pre-funding for new loans.

BNP Paribas (arranger) and Citigroup are leading the deal, backed by collateral described as “specialist prime, performing, first-ranking mortgages”. There is a roadshow from Friday to Tuesday and the deal will be priced next week. 

Kensington, now owned by Blackstone and TPG, uses the Finsbury Square platform for ...

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