RMBS stalwarts signal readiness to call

By Owen Sanderson
04 Jun 2020

Kensington and Precise Mortgages, two of the most frequent issuers in the UK RMBS market, have signalled a willingness to call their outstanding deals, in a sign that a rallying market is taking extension risk off the table.

Precise Mortgages has access to Bank of England repo funding at preferential rates, following its merger with OneSavings Bank and acquisition of a banking licence. OneSavings already structured and retained Canterbury No. 2, a buy-to-let RMBS, in March to serve as collateral for repo funding with private counterparties ...

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