Business
Closing of Canterbury Finance No.4 plc Transaction
Closing of Canterbury Finance No.4 plc Transaction.
About this update from Osb Group Plc
[{"type":"text","content":"\n \n \n Closing of Canterbury Finance No.4 plc Transaction\n \n \n \n \n Closing of Canterbury Finance No.\n 4\n plc \n Transaction\n \n LEI: 213800ZBKL9BHSL2K459\n \n OSB GROUP PLC\n (\"OSB\" or the \"Group\")\n \n \n Closing of Canterbury Finance No.\n 4\n plc (the \"Transaction\n \")\n \n OSB GROUP PLC (“OSB”) today announces that it has closed the Canterbury Finance No.4 securitisation. The fully retained transaction securitises £1.7bn of prime Buy-to-Let mortgage assets originated by OneSavings Bank, and will generate £1.4bn of AAA rated senior bonds for the Group, for utilisation as collateral for Bank of England repo funding facilities and the Term Funding Scheme with additional incentives for SMEs (TFSME) scheme, as well as to act as collateral for commercial repo transactions with investment bank counterparties.\n Commenting on the Transaction, Andy Golding, CEO of OSB Group, said:\n \"This transaction, our first structured finance trade of the year, significantly increases the contingent wholesale funding options available to us, as well as giving us the opportunity to be more efficient in our drawings from the Bank of England under the TFS and TFSME schemes. The transaction provides further evidence of our sophisticated approach to liability management. I would like to thank our transaction advisors and counterparties for supporting us on this transaction.”\n \n Enquiries:\n \n \n OneSavings Bank plc\n \n Alastair Pate t: 01634 838 973\n \n Brunswick Group\n \n Robin Wrench/Simone Selzer t: 020 7404 5959 &...