Co-op to brave heavy market conditions in UK RMBS sector

By David Bell
17 Sep 2015

The traditionally small investor base for UK RMBS has been hit with a wave of supply over the past three months. CarVal, Mars Capital, Precise and Paragon have all brought large UK RMBS deals to the market, and bankers have questioned whether the investors can continue to absorb this high level of supply.

The Co-operative Bank was expected to brave the heavy market conditions this week with its second deal from the Warwick Finance programme. Co-op has used the Warwick programme to sell down assets in its non-core residential mortgage portfolio, Optimum. Books opened on September 11, with Bank of America ...

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