Lloyds ends RMBS drought after end of TFS cheap money

Lloyds is weaning itself off the Bank of England’s Term Funding Scheme (TFS), tempting investors back to its RMBS programme with a dollar and sterling denominated offering, after an 18 month absence from the market.

  • By Asad Ali
  • 11 Jun 2018
Sole arranger Lloyds announced on Friday (June 8) details of a three tranche tap from the latest series of its RMBS master trust — Permanent 2018-1 — backed by prime UK

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,723.52 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%