Precise buy-to-let RMBS wins tight pricing
The strength of demand for UK RMBS was highlighted on Wednesday with the launch of Charter Mortgages’ Precise Mortgage Funding 2018-1B, with the deal being priced well inside of initial guidance and all tranches subscribed multiple times over.
The buy-to-let mortgage offering was announced last week. On Monday, initial spreads for the class ‘A’, ‘B’, ‘C’ and ‘D’ notes were respectively set at 70bp-75bp over three month Libor, low 100bp area, mid to high 100bp and 200bp to low 200bp area.On Wednesday, the ...
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