Charter Court leans into strong market with RMBS reoffer

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By Tom Brown
08 Feb 2021

Charter Court Financial has sold a secondary reoffer of the class ‘A2’ tranche of its 2019-1B RMBS deal, tapping into a market which has seen spreads retrace the widening experienced during the early months of the pandemic.

The issuer priced the deal, Precise Mortgage Funding 2019-1B, at 93bp in June 2019. Class ‘A1’ notes were pre-placed, and the capital stack from the tranche ‘B’ down were offered to the market.

The class ‘A2’ notes, however, were retained by the issuer, which planned to take them ...

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