BAML and Lloyds bring Aldermore STS deal ahead of Brexit rush

investors rushing
By Tom Brown
20 Aug 2019

Aldermore Bank has tapped Bank of America Merrill Lynch and Lloyds to arrange a prime UK RMBS deal set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory label, looking to get ahead of a raft of RMBS issuance expected in September.

Oak No.3 offers a single senior tranche rated triple-A by Fitch and Moody’s with a weighted average life of 2.77 years, and set to price a floating rate coupon over Sonia. A class ‘Z’ tranche is being retained.

Lloyds and BAML are arranging, with BNP Paribas joining ...

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