Leeds Building Society turns to RMBS market after four year absence
Leeds Building Society has mandated Barclays, Citigroup and Lloyds to arrange Albion No 4, a prime UK residential mortgage securitization, set to qualify for the ‘simple, transparent and standardised’ (STS) regulatory framework. The deal comes as two more sterling RMBS deals are heading to be priced on Wednesday afternoon.
LBS is offering a single Sonia-linked sterling floating rate note class ‘A’ tranche with a weighted average life of 2.8 years and 10% credit enhancement. The tranche is rated triple-A by Fitch and Moody’s.LBS expects to publicly place £250m of ‘A’ notes, some of which it ...
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