LendInvest has completed the group’s fifth and largest securitisation of £410 mln (€475 mln) of its buy-to-let (BTL) mortgage loans in an oversubscribed residential mortgage backed security (RMBS).
With the senior tranche priced at 1.17% over SONIA, the securitisation received the tightest pricing on a buy-to-let RMBS transaction in the last six months. The proceeds will be used to power LendInvest's buy-to-let and residential products.
The transaction increases LendInvest's total Funds under Management (FuM) to £4.2 bn. The business has now lent more than £6 bn of property finance to UK borrowers since 2008.
National Australia Bank and Lloyds acted as joint arrangers. Barclays, Citi, HSBC, Lloyds, National Australia Bank and Wells Fargo Securities acted as joint lead managers.
Rod Lockhart, CEO of LendInvest, commented: 'I am delighted to announce the completion of this transaction, which is our fifth and largest securitisation since we started our RMBS programme in 2019. This achievement is particularly significant in the current market, and it demonstrates the continued attractiveness of this asset class.'