EMEA

摘要

Natixis is aiming to price its latest non-conforming UK RMBS this week, targeting risk-on buyers willing to gamble on the aggressive structure of the deal. the oncilla mortgage funding 2016-1 trade will offer £173.6m in Triple A rated notes with a weighted average life of 3.79 years. The coupon on the notes is 140bp over three-month Libor, with a step-up to 210bp. The £259.4m full capital stack deal also includes Class Bs at a 180bp coupon, Class Cs at 190bp, Class Ds at 200bp, and Class Es at 210bp. If those notes are not called in June 2021, the margins will accrue a subordinated additional payment of 50bp.