Extension risk ahead for UK deals as Q2 call dates near

Extension risk ahead for UK deals as Q2 call dates near

Tom Brown

April 27, 2020 05:00 PM

Phone_PA_575x375_27April20 — A landline telephone connected with an RJ11 telephone jack is seen in New York on Thursday, May 4, 2017. According to a Centers For Disease Control and Prevention study only 45.9 percent of American households still have a landline while 50.8 percent rely only on cellphones, which means 3.3 percent of U.S. household have no phone service at all. (Photo by Richard B. Levine) *** Please Use Credit from Credit Field *** | Richard B. Levine/SIPA USA/PA Images

More than £2.3bn ($2.86bn) of UK securitizations are coming up for call, as a majority of the year’s redemption schedule is packed into the current quarter. Investors expect banks to call as normal, but see non-bank deals as likely to miss their calls and extend.

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Topics

Coronavirus Health and Biotech RMBS Securitization UK Europe EMEA SRI

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Tom Brown