Money Partners completes fourth securitisation

Money Partners has completed its fourth securitisation transaction in the UK residential mortgage backed securities market.

Totalling £600m, the transaction, called Money Partners Securities 4 Plc (MPS4), was issued by Kensington Group with The Royal Bank of Scotland and West LB acting as lead managers.

For the first time, MPS4 comprises assets originated by both Money Partners and Kensington.

Approximately 72% of the portfolio by balance was originated by Money Partners and 28% by Kensington Mortgage Company.

MPS4 brings to £2bn the total value of RMBS transactions completed under the Money Partners banner since the specialist lender’s launch two years ago.

Simon Kingdon, finance director at Money Partners, says: “MPS4 attracted a wider investor base than previous transactions and was oversubscribed at all levels.

“We are delighted with the continuing development of our securitisation programme.”