The £3.4 billion ($5.33 billion) U.K. prime RMBS master trust issue called Arkle 2010-2 was absorbed by the market quite quickly, with fairly little marketing.

According to market reports, the deal, issued by Lloyds TSB bank was said to have been well bid by a large number of investors — 52 accounts over 14 countries according to a press release issued by the bank. The deal offered tranches that are rated triple-A in four currencies: British pound, euro, U.S. dollar and Japanese yen.

Societe Generale analysts said that the investor appetite for this latest U.K. issue comes as a surprise given the market saturation of U.K. prime master trust.

Santander U.K., the seller of the Holmes master trust series, should soon be announcing the terms of its new issues.

A £200 million U.K. nonconforming RMBS from Investec, Residential Mortgage Securities 25 Plc is also in the RMBS pipeline. Only the most senior triple-A tranche is offered. The structure is backed with a zero coupon bond.

Paragon Mortgages also has a £200 million U.K. buy-to-let deal in the pipeline that is expected to begin marketing in the second quarter of next year.

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