Press Releases • July, 2019

Kensington issues £465 Million public securitisation

SECURITISATION

Kensington issues £465 million public securitisation

Kensington priced its latest securitisation transaction on 11 July 2019, bringing its total issuance to over £8.7 billion since the group was formed under its current ownership in 2015. The deal is the eighth from the lender’s Finsbury Square shelf, which it uses to securitise its owner occupied and buy to let originations.

The £465 million deal saw significant demand from investors, leading to the transaction being upsized from an initial size of £325 million. All tranches were oversubscribed even after the upsize.

After a slow start to the year on the back of Brexit uncertainty, the RMBS market has been very active in recent weeks, with seven transactions publicly placed with investors since the beginning of May. Despite the increased supply of bonds in the primary market, Kensington’s transaction was able to attract a wide range of investors and achieved excellent pricing terms.

Alex Maddox

Capital Markets & Digital Director

“The last few weeks have been very busy in the market with a number of lenders who haven’t previously used the securitisation route for funding bringing deals to the market. The continued strong investor demand for Kensington’s transactions is evidence of the market’s recognition of the high-quality collateral we originate.”

Kensington and Kensington Mortgages are trading names of Kensington Mortgage Company Limited (registered in England & Wales No. 3049877), which has its registered office address at: Ascot House, Maidenhead Office Park, Maidenhead SL6 3QQ.

Kensington Mortgage Company Limited is authorised and regulated by the Financial Conduct Authority (310336). Some investment mortgage contracts are not regulated by the Financial Conduct Authority.