1 minute readLloyds Banking Group has completed its first issue of residential mortgage-backed securities (RMBS) in two years with a £3.4bn (US$5.1bn) transaction that attracted strong demand from investors. Yesterday’s deal, the largest public offering of RMBS since the summer of 2007, helped Lloyds raise more than half of its funding needed for the year, strengthening the UK bank’s balance sheet. Strong demand for the publicly offered tranche of the deal saw it increased in size from £1.8bn to £2.8bn, with more than 60% of the paper being sold into the US market. The transaction was issued through Lloyds’ “Arkle” program and does not offer investors a ‘put’ option that would enable them to sell the paper back to the bank at a fixed price.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
From resilience to antifragility: Rethinking cybersecurity for real estate and mortgage professionals
In information security, we’ve long spoken about resilience. The goal has been to withstand an attack, recover quickly, and return to business as usual. But in today’s environment—where attackers adapt and evolve daily—resilience is no longer enough. We must go further. We must embrace antifragility.
-
From local to global: RE/MAX’s Chris Lim on the next era of real estate relationships
-
Stop marketing like it’s 2008: You’re invisible
-
RE/MAX accelerates real estate innovation with AI and technology
-
Retirement plans for small-business owners have visible generational gaps
-
VA loans rise as housing market shifts toward buyers
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
