Co-Op UK NC RMBS swells

By Graham Bippart
28 Apr 2015

Warwick No. 1, the Co-Operative Bank’s debut non-conforming RMBS from the shelf, has grown from already formidable £1.19bn to £1.5bn on demand.

Sole arranger Bank of America Merrill Lynch, alongside joint lead managers Citi and Morgan Stanley, are looking to price the deal on Tuesday.

The coupon on the £1.088bn class ‘A’ tranche, which will be 70% retained by Co-Op, is set at three month Libor ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial