Known as Gemgarto 2015-2, the transaction is backed by £280m of new Kensington originations, with a seasoning of 9 months and weighted average LTV of 74%.
The senior tranche has been priced at 3-month LIBOR +145bps and been given the Prime Collateralised Securities label.
Alex Maddox, business origination and development director at Kensington, said: “This is another strong performance from a Kensington securitisation.
“We have achieved pricing at the tighter end of the guidance and better than recent competitor issuances, which confirms investor confidence in the quality of the assets we are generating.
“We have raised well over a billion pounds of funding since the change of ownership early this year and this, combined with the capital committed by our owners, will provide a strong foundation for our growth plans.
The securitisation has attracted strong demand, with 14 different investors across all tranches and the Class A note of the transaction being more than 3 times oversubscribed.
This is the third securitisation from Kensington in 2015, with the transactions totalling nearly £1.29 bn.
Back in July the lender securitised £508m of new assets through Gemgarto 2015-1 following on from the £497m it completed in March.
