Cerberus eyes Northern Rock RMBS refi

摘要

Cerberus has hired advisers for a potential refinancing of its £6.2bn securitisation of legacy Northern Rock mortgages, but may find the 2019 marketplace looks remarkably similar to 2016. Bank of America Merrill Lynch, and Morgan Stanley have been appointed to explore options for the RMBS, TOWD POINT MORTGAGE FUNDING 2016-granite 1, as well as a much smaller follow-up trade sold later in 2016. They have step-up and call dates in April and May next year. The deals securitised a portion of the £13bn Northern Rock mortgages Cerberus bought from the UK government in 2015.