Lloyds launches securitisation

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%.