Optimum Credit joins flourishing autumn ABS pipeline

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By Owen Sanderson
10 Sep 2020

Optimum Credit, a subsidiary of Pepper Money mandated Citi and NatWest Markets for Castell 2020-1, a UK second lien RMBS placing a full capital structure. It joins deals from Finance Ireland and RNHB in a growing pipeline of European securitization, with bankers hoping to make up for a disappointing second quarter.

Like several of the sterling deals placed over the summer, Castell 2020-1 has been heavily anchored ahead of announcement, with a protected order of around £100m in the class ‘A’, half each of the class ‘B’ and ‘C’, and the rest of the capital structure pre-placed.

The investor ...

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