Complex Buy To Let
Lendco closes £408m buy-to-let securitisation
Specialist lender Lendco has closed its fourth public buy-to-let securitisation of £408m, its largest issuance, as part of its Atlas programme.
Lendco said that the buy-to-let (BTL) securitisation attracted “substantial investor interest” and led to the “tightest pricing to date” for the Atlas programme.
The BTL securitisation transaction was arranged by Santander Corporate and Investment Banking, and the joint lead managers were Barclays, BNP Paribas, HSBC, and Santander Corporate and Investment Banking.
Simon Knight, Lendco’s CEO, said: “We are delighted to have completed our largest securitisation so far and which comes hot on the heels of us winning Best Specialist BTL Lender last week.
“The Atlas and Lendco brands are now increasingly well-known amongst investors, and the high level of demand for this securitisation illustrates what a great job our team is doing.”
Adrian Scragg, director of treasury, capital markets and ESG at Lendco, added: “We couldn’t be more proud of this latest issuance in our programme. Not only were we able to achieve scale, we did so at some of the tightest spread levels seen this year – a clear testament to the high-quality loans we originate.”
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Lendco was founded in 2018 and specialises in BTL and bridging loans. It holds a loan book of over £1.5bn to date.
The lender secured an additional £250m funding line from Santander CIB earlier this year.
Lendco’s last BTL securitisation was valued at £304m and took place last year.