CarVal offloads former Future Mortgages UK portfolio

By David Bell
11 Sep 2015

CarVal Investors were back in the UK non-conforming RMBS sector this week with Dukinfield Plc, a deal backed by a legacy portfolio of mortgages acquired from former lender Future Mortgages.

Sole bookrunner Royal Bank of Scotland set pricing at discount margin of 175bp above three-month Libor for the ‘A’ class tranche of the £460m non-conforming RMBS deal. That class has been rated at AAA class by Standard and Poor’s.

CarVal Investors have done a series of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial