Press Releases • March, 2019
Kensington breaks through £8bn of public securitisation issuance
Kensington breaks through £8 billion of public securitisation issuance
Kensington has priced the latest securitisation transaction from its Finsbury Square programme, bringing the total issuance to £8.2 billion since the group was formed.
The £535 million deal saw healthy demand from investors, with the transaction being upsized from the initial size of £375 million. All tranches were oversubscribed even after the upsize. A wide range of investors were involved in the transaction including banks and fund managers from the UK, US, Australasia and Europe.
This funding will support Kensington’s significant origination of Owner Occupied and Buy to Let loans. Kensington’s loan book continues to perform well with cumulative losses of less than £150, 000 on the almost £5 billion of loans originated since 2010.
Despite a period of market volatility due to Brexit, the cost of funding from this latest transaction was comparable with the equivalent notes from NVG’s November securitisation.