This is GMAC-RFC’s 24th transaction in the UK RMBS market, and total issuance since 1998 exceeds £14 billion.The transaction is backed by 100 per cent first lien, non-conforming mortgages and has been divided into six tranches denominated in Sterling, US Dollars and Euros using a senior/subordinated structure.
Stephen Hynes, capital markets director at GMAC-RFC, said: “We are very pleased with the investor response to our latest transaction across all three currencies, which brings total issuance for 2006 to £2.65 billion.”
The issuance was lead managed by Credit Suisse and HSBC and co-managed by GMAC-RFC’s broker dealer GMAC-RFC Securities Europe.
