First UK prime ESG RMBS rolls out carpet for US investors

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By Tom Brown
23 Mar 2021

Yorkshire Building Society has set the stage for “social” securitizations with the first prime UK residential mortgage-backed security to carry this label. The deal has a dollar tranche to entice US accounts in preparation for the end of the Bank of England’s funding schemes.

Brass No 10 was priced on Friday March 19 at 33bp over Sonia for the sterling tranche and 0.669% for the fixed rate dollar tranche. Lloyds was arranger, Barclays and Citigroup also lead managers.

YBS said it did not want to become over-reliant on cheap funding from the ...

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