OSB Group has completed the securitisation of prime buy-to-let mortgage assets worth £1.33bn originated by OneSavings Bank.
The Canterbury Finance No.5 securitisation is expected to generate £1.1bn of AAA rated senior bonds for the group, which it said increased its wholesale funding options.
A higher priority is placed on senior bonds than other bonds of the same class in case of a firm’s default or bankruptcy. They generally carry a lower risk and therefore pay lower rates of interest to investors.
Senior bonds are considered to be a safer investment.
Andy Golding (pictured), CEO of OSB Group, said: “This transaction, our first structured finance trade of the year, significantly increases the contingent wholesale funding options available to us. The transaction provides ongoing evidence of our sophisticated approach to liability management.
“I would like to thank our transaction advisors and counterparties for supporting us on this transaction.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
