Lloyds, MS price first 100% BTL Irish RMBS since the crisis

Lloyds and Morgan Stanley have teamed up to price M&G-sponsored Irish RMBS Mulcair Securities, with the senior notes printed in line with initial thoughts at 100bp.

  • By Tom Brown
  • 10 Apr 2019

The pre-crisis mortgage portfolio has a weighted average seasoning of 12.44 years and is made up entirely of buy-to-let (BTL) mortgages, making this the first Irish RMBS backed entirely by BTL assets to come out of the country since the financial crisis, according to a Bank of Ireland spokesperson.

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