Smaller size expected for Co-op’s second Warwick Finance UK RMBS deal

By David Bell
15 Sep 2015

The second deal from Co-op’s residential mortgage portfolio looks set to be a more modest transaction than the first, due to more challenging market conditions driven by high levels of supply and a limited investor base.

Unlike Warwick Finance Number One, pricing hasn’t been tightened from initial price thoughts. In addition, the deal size is set to be barely a third of the £1.5bn that was raised in April.

Last week the market buzz was that the Co-op would hope to raise a further ...

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