Press Releases • November, 2021
Kensington Mortgages Places Specialist Prime Securitisation, Raising £452M Mortgage Bonds
KENSINGTON MORTGAGES PLACES SPECIALIST PRIME SECURITISATION, RAISING £452M MORTGAGE BONDS
- The latest securitisation is the third bond issuance by Kensington this year
- The total of funding raised for the Group is now £13.4 bn since 2015.
12 November 2021: Kensington Mortgages today announces that it has successfully priced Finsbury Square 2021-2, a £452m of mortgage-backed securities transaction, in the wholesale financial markets.
Kensington is the most frequent issuer of mortgage bonds in the UK market and has successfully placed its third securitisation for the year. This takes the total funds raised for the Group to £13.4bn in 24 transactions since 2015.
The deal was announced to the market on Wednesday 3 November. In a sign of major investors’ confidence in Kensington’s UK lending platform, all tranches were oversubscribed, with the seniors and mezzanine tranches going to 26 different accounts.
The transaction will raise £463.7 million of funding for the Group, to continue to support complex and underserved borrowers to get on the property ladder
This transaction was issued in both RegS and 144a format, which allowed the group to attract new US fund investors.
The senior debt was priced at 80bps over SONIA.