Spreads tighten for pair of UK RMBS deals

USD GBP Balance
By Tom Brown
12 Sep 2019

Pepper Group subsidiary Optimum Credit has priced its Castell 2019-1 deal tight of guidance, while Yorkshire Building Society’s Brass No 8 RMBS was also priced, with senior notes tightening by about 5bp from initial price thoughts.

Brass No 8 was arranged by Bank of America, BNP Paribas, Lloyds and Citi. The class ‘A1’ notes ended up at 70bp over three-month dollar Libor, after being talked at around 75bp on Monday.

The sterling notes also came tighter than initial price thoughts, guided in the ...

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