Santander restructures Holmes and adds redemption reserve

30 Sep 2010

Santander UK announced on Thursday a restructuring of its Holmes master trust ahead of widely expected public issuance.

While Santander has tapped its Fosse master trust, originally backed by mortgages from Alliance & Leicester, this year, it has not used the former Abbey’s Holmes master trust for public issuance since June 2007. In the intervening years, however, Santander issued and retained large amounts of Holmes notes ...

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