Lendco prices third buy to let securitisation

By Bridging Loan Directory 2nd May 2023

Specialist buy to let lender Lendco has priced its third public securitisation (Atlas 2023-1) valued at £304m.

The securitisation was oversubscribed by 2.0 times overall, with the firm receiving interest for £580m against the £290m of bonds being offered across the capital structure.

The transaction consisted of a pool of prime UK Buy-to-Let Mortgages and due to strong investor demand, was the tightest priced issuance for a UK Buy-to-Let deal since Lendco’s previous Atlas 2022-1 issuance in April 2022.

The firm has grown its investor base yet again with a total of 23 separate investors across the various tranches, including 16 in the AAA tranche, which showcases Lendco’s track record, the strength of the portfolio and investor confidence in the company.

Lendco’s Director of Treasury, Capital Markets and ESG, Adrian Scragg, said:

“The fact that this deal was so tightly priced whilst remaining very well subscribed speaks volumes about the quality of the mortgages we originate. Investors are comfortable with our continuity and the maturity of our portfolio.”

Simon Knight, CEO of Lendco, commented:

“Five years ago we launched with the aim of only offering high quality Buy-to-Let mortgages for experienced portfolio landlords.

This third successful securitisation proves just how well we’ve done that and we continue to strive to offer our intermediaries a service and a product range that meets their clients ongoing Buy-to-Let mortgage needs”.