Skipton returns to RMBS after four year break

By Tom Brown
12 Feb 2020

Skipton Building Society is bringing a prime sterling RMBS with joint arrangers JP Morgan and Lloyds. The issuer last brought a deal in 2016, pausing the programme in light of the UK government’s Term Funding Scheme (TFS).

The class ‘A’ notes of Darrowby No. 5, rated triple-A by Fitch and Moody’s, will offer £300m-£500m of 2.96 year notes with credit enhancement of 11.35%.

TFS was introduced by the Bank of England to support growth and to help it to meet its 2% inflation target ...

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