Foundation’s fourth securitisation attracts a third of orders from overseas

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  • 15/10/2019
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Foundation’s fourth securitisation attracts a third of orders from overseas
Foundation Home Loans has completed its fourth securitisation under the Twin Bridges platform since its inception in 2017.

 

The Twin Bridges 2019-2 securitisation was the specialist lender’s third this year and its first Sterling Overnight Interbank Average Rate (SONIA) trade.

The lender said this reflected significant growth in origination it had developed during the year. 

The trade attracted 31 orders totaling £850m, with all tranches of the £300m transaction  oversubscribed at least twice.

A third of orders were from non-UK investors.  

The transaction followed on from the lender’s securing £750m in new and renewed committed warehouse funding. It provides Foundation with capacity to fulfil its planned originations into 2021, even in the event of a closed securitisation market.  

Hans Geberbauer, chief executive of Foundation Home Loans, said: “We are acutely aware that these are challenging times for the market and therefore the confidence our investors are showing in our proposition is testament to the quality of our operation and the strength of our treasury team.  

“The further good news is that, regardless of future events, we now have the committed warehouse funding capacity to deliver our ambitious lending growth through to 2021.” 

 

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