TwentyFour fund clears debut offering

摘要

TwentyFour Asset Management's UK mortgage fund printed its debut buy-to-let securitisation last week, snapping up funding quickly having lined up buying interest in advance. The group priced its Malt Hill No 1 RMBS last Wednesday, clearing the £263.3m senior tranche at 135bp over three-month Libor. The spread was in line with price talk, which was outlined when the deal was announced earlier in the week. The issuer also retained £39.36m in Class Z notes. The deal, which is being issued by TwentyFour's listed UK mortgages limited fund, had a significant portion of the Triple As placed ahead of public syndication.