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Alliance & Leicester launches £1bn securitisation

by: Mortgage Solutions
  • 24/02/2010
  • 0
Alliance & Leicester launches £1bn securitisation
Alliance & Leicester (A&L) has launched a £1bn residential mortgage-backed securitisation (RMBS) deal.

The last RMBS deal from A&L was a £400m deal in August 2008.

The securitisation follows deals from Lloyds Banking Group, Nationwide and Britannia Building Society in recent months.

The issue is backed by a pool of prime UK residential mortgages from A&L and is the fourth issue from its Fosse Master Trust securitisation vehicle.

A spokesperson for Santander said: “It is the first transaction without a put option for investors. Demand from investor meetings for it is very high. We have had 40 or 50 requests for meetings from invrestors so it is very popular. There are three tranches- a floating sterling, a floating euro and a fixed GDP.”

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