Citi pre-places UK RMBS with pre-2008 assets

By Tom Brown
12 Aug 2020

Citibank fully pre-placed Cheshire 2020-1 on Tuesday, a £247m RMBS transaction backed by seasoned owner-occupied and buy-to-let mortgages. The loans were originated by Citi's lending arm Future Mortgages, which stopped lending in 2008.

The 3.35-year class ‘A’ notes were priced at 90bp over Sonia, with the class ‘B’ notes arriving at 160bp. The class ‘C’ landed at 210bp, the ‘Ds’ at 260bp, the ‘Es’ at 310bp and the ‘Fs’ at 350bp.

In May 2008, Citi stopped new lending through its ...

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