It securitises the lenders owner occupied and buy-to-let originations and is priced at SONIA +101bp for the senior tranche.
Kensington has completed a £425m securitisation bringing its total issuance to over £9bn.
The deal saw significant demand from investors, leading to the transaction being upsized from an initial size of £285m. All tranches were oversubscribed even after the upsize. The transaction allows Kensington to secure more funding to support growing demand from its mortgage customers.
Alex Maddox, capital markets & digital director at Kensignton, said: “With the successful pricing of our third securitisation of the Finsbury Square programme of the year, Kensington is the most active issuer in the UK RMBS market. The continued strong investor demand for Kensington’s transactions demonstrates the market’s confidence in the high-quality business we originate.
