Lloyds launches securitisation
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Lloyds Banking Group has launched a securitisation deal, backed by a pool of UK prime residential mortgage loans.
The loans were originated by Lloyds TSB and Cheltenham and Gloucester, prior to a business transfer to Lloyds in 2007.
The deal is the ninth issuance from the Arkle Master Trust series and will be valued next week.
The transaction has been given a provisional AAA rating from Moody’s. Moody’s estimates the average LTV of the pool to be 62.8%.
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