Sterling ABS issuance is keeping a steady pace as July rolls on, with Kensington Mortgage Co mandating BNP Paribas as arranger and lead manager alongside Citigroup, Deutsche Bank, National Australia Bank and Standard Chartered for its Sonia-benchmarked Finsbury 2019-2 UK RMBS deal.
Because of the rapid benchmark switchover in the UK, certain sterling investors are still unable to put money to work in Sonia deals, though the majority of investors are now over the line. The Kensington deal is part of a last push through July leading up to
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