Cerberus securitizes repurchased Metro Bank mortgage book

cerberus 8
By Tom Brown
07 Oct 2019

Cerberus is marketing a new UK RMBS partly backed by the portfolio it repurchased from Metro Bank this summer, with the senior notes pre-placed and the rest of the stack handled by Bank of America’s trading desk.

The deal brings together two parts of the legacy loan book from Capital Home Loans — £930m of which was securitized in Towd Point 2016-Auburn 10, another Cerberus deal, and £552m which was sold to Metro Bank.

In July 2019, under pressure to cut leverage and get rid ...

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