BAML and Lloyds bring Aldermore STS deal ahead of Brexit rush
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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