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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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