Bank of America Merrill Lynch and StormHarbour Securities are marketing the second UK non-conforming RMBS of 2014 — Moorgate Funding 2014-1, according to a Standard & Poor’s pre-sale report.

The agency has assigned preliminary ratings to the deal. The capital structure will offer £338.16 million ($568.95 million) of ‘AAA’-rated notes; £56 million of ‘AA’-rated notes; £44.8 million of ‘A’-rated notes; £18.36 million of ‘BBB’-rated notes and £27.03 of ‘BB’-rated notes.

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