Bluestone stretches stack on first Celeste RMBS

By Tom Porter
11 Mar 2015

Australia based Bluestone is looking to sell up to seven tranches of notes in its securitization of buy-to-let mortgages acquired in its takeover of Basinghall Finance.

Arranger Macquarie and joint lead manager Credit Suisse unveiled the structure of the £258.2m trade on Wedenesday morning in London, publicly offering investors a £161.9m 3.72 year AAA/AAA (S&P/DBRS) rated senior tranche at initial price thoughts of 85bp area over three month Libor.

Only a £3.6m subordinated ...

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