Investec launches £204m Kensington securitisation
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Investec, the parent company of Kensington, has launched a £204m securitisation.
The deal - Gemgarto 2011-1, is backed by a pool of prime residential mortgages.
All of the mortgages within the deal have been originated by Kensington since its return to lending in November 2009 and the notes are expected to be rated AAA by Standard & Poors, Fitch and DBRS.
Keith Street, head of Kensington, says:“Initial feedback from ratings agencies and investors has been hugely positive and this is testament to the high quality of the prime assets that have been originated by Kensington.
“I am looking forward to working with my colleagues at Investec on more deals of this nature in the future as we continue to build responsible and sustainable recovery in the UK mortgage market.”
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