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Molo and Colcap UK complete debut £300m securitisation

  • 02/05/2024
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Molo and Colcap UK complete debut £300m securitisation
Molo and Colcap UK have successfully completed their first securitisation, totalling around £300m, known as Molossus BTL 2024-1.

The securitisation, which is a residential mortgage-backed security (RMBS), consists of prime UK buy-to-let (BTL) mortgage loans in England and Wales.

Macquarie Bank and Standard Chartered Bank acted as joint arrangers and Macquarie Bank, Standard Chartered Bank, and Citigroup acted as joint lead managers.

Colcap Financial partnered with Molo in 2021 to re-enter the BTL market, and then bought an 80% shareholding in the company in 2023.

Former co-founder and chief executive Francesca Carlesi stepped down from the role in November, with Matthew Kimber taking on the chief executive role earlier this year.

Matt Kimber, Molo’s CEO, said: “The success of this RMBS highlights the strength of Molo’s mortgage lending capabilities and the credit quality of our originations. It enables us to continue empowering landlords with accessible and innovative lending solutions while reinforcing our position as a leader in the buy-to-let mortgage market.”

Paolo Tanca, Colcap UK’s treasurer, said: “This deal represents a significant milestone for us, showcasing our ability to structure and execute successful RMBS transactions in the UK market. We are excited about the opportunities for future growth and expansion.”

Esther Morley, Colcap UK’s executive director and COO, added: “Today’s successful RMBS announcement demonstrates growing confidence in the UK property market and in the quality of Molo’s buy-to-let portfolio.

“This strategic move with Molo is the first of many and demonstrates our commitment to innovation. It also marks the beginning of a new chapter for Colcap in the UK market. It sets the stage for further collaborations and growth opportunities, benefitting both our UK operations and our broader global presence, including Colcap Australia.”

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