LendInvest plc has revealed that LendInvest BTL Limited has completed the group's fifth and largest securitisation of £410m of UK prime BTL mortgage loans in an oversubscribed residential mortgage backed security (RMBS) transaction.
The transaction increases LendInvest's total funds under management (FuM) to £4.2bn.
The business has now lent more than £6bn of property finance to UK borrowers since 2008.
The securitisation received an Aaa(sf) and AAA(sf) rating (for 89.5% of the pool) from global credit rating agencies Fitch and S&P Global Ratings respectively.
The senior tranche was priced at 1.17% over SONIA.
The securitisation received the tightest pricing on a BTL RMBS transaction in the last six months, with proceeds used to power LendInvest's BTL and residential products.
National Australia Bank and Lloyds acted as joint arrangers, while Barclays, Citi, HSBC, Lloyds, National Australia Bank Limited, Wells Fargo Securities acted as joint lead managers.
Rod Lockhart, CEO at LendInvest (pictured above), said: "I am delighted to announce the completion of this transaction, which is our fifth and largest securitisation since we started our RMBS programme in 2019.
"This achievement is particularly significant in the current market, and it demonstrates the continued attractiveness of this asset class."
Miray Muminoglu, head of securitised products group and FIG DCM at Lloyds, said: "Having put in place the warehouse facility back in September 2022, we are very pleased to have assisted LendInvest to come to the market with this highly successful RMBS transaction."
