Keystone Property Finance has completed its latest securitisation, its fifth since the lender’s relaunch in 2018.
The securitisation, Hops Hill No.5, contains £400m worth of BTL loans originated by Keystone, with £80m of pre-funding.
Lloyds Bank and BNP Paribas acted as joint lead managers on this securitisation, on behalf of UK Mortgages Corporate Funding DAC, which was advised by TwentyFour Asset Management.
The Class AAA notes priced at Sonia +73 basis points and were two times oversubscribed.
The Class B & C notes were both over five times oversubscribed and the junior notes were two times oversubscribed.
“Hops Hill No.5 is another important milestone and gives us additional firepower to keep supporting landlords with the funding they need in a fast-moving market,” said Elise Coole, managing director at Keystone Property Finance.
“This has been a real team effort, drawing on the expertise and commitment of everyone across the business as well as the continued backing of our broker partners.
“It’s this combination of talent, experience and shared ambition that allows us to keep evolving, delivering and setting the standard in the specialist BTL market.”
