Kensington weighs redemption of 2007 RMBS notes

By Tom Brown
14 Jul 2020

Kensington Mortgages is considering redeeming the notes from Kensington Mortgage Securities 2007-1, a legacy deal with the majority of the pool paid down. The issuer is considering a new deal off the back of the redemption.

If market conditions allow, Kensington may redeem the notes on or after the interest payment date falling in September, 2020, allowing a new deal to come to market.

Issuers do not often refinance pre-crisis securitizations, as spreads on securitized products in the years before 2008 were tight, and ...

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