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Bank of Ireland raises £350m through securitisation

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  • 06/06/2019
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Bank of Ireland raises £350m through securitisation
Bank of Ireland UK has completed its first mortgage securitisation.

 

The lender sold off a package of prime, Bank of Ireland-branded UK residential mortgages for £350m.

The portfolio was awarded an AAA rating by Moodys & Fitch.

Lloyds Bank Corporate Markets and Merrill Lynch International were the lead investment banks on the deal.

The lender emphasised that there would be no impact on the borrowers as a result of the securitisation, as Bank of Ireland will continue to service the loans, with the contractual terms and conditions remaining the same.

Last month the lender appointed Ian McLaughlin as chief executive.

 

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John Fitzsimons is a freelance journalist and has been writing about money since 2007. A former editor of Mortgage Solutions and loveMONEY, he has written for titles including the Mirror, the Sunday Times, the Sun and Moneyweek, covering everything from bank accounts and mortgages to football season tickets and rare coins.

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