A new £350 million ($565.4 million) U.K. RMBS deal for the Skipton Building Society began marketing this week, according to market reports.
The deal comes as predictions for a reopening of the European market in March heat up. Deutsche Bank analysts said that the European public securitization market has seen a paltry €9.7 billion ($13.5 billion) of issuance this year. Several deals have alternatively been placed privately or retained by the issuing bank.
This latest U.K. RMBS deal comes shortly after the reopening of the Italian RMBS market via the publicly placed Claris RMBS 2011 transaction.
The Skipton deal named Darrowby 1, is being led by the Royal Bank of Scotland and JPMorgan. The capital structure will offer around £350 million of triple-A rated notes, market reports said.
