Specialist Buy-to-Let lender Lendco has announced the pricing of its third public securitisation, Atlas 2023-1, valued at £304m.
The securitisation, consisting of a pool of prime UK buy-to-let mortgages, was oversubscribed by 2.0 times overall, with the firm receiving £580m of interest against the £290m of bonds being offered across the capital structure.
The strong investor demand resulted in the tightest pricing for a UK Buy-to-Let deal since Lendco’s previous Atlas 2022-1 issuance in April 2022.
Lendco expanded its investor base, attracting 23 separate investors across various tranches, including 16 in the AAA tranche, demonstrating the company’s solid track record and investor confidence.
Adrian Scragg, Lendco’s director of treasury, Capital Markets and ESG, 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 (pictured), CEO of Lendco, added: “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.”
