Paragon Mortgages priced its first U.K. buy-to-let transaction of 2013 to strong investor demand, according to a Deutsche Bank report.

Standard & Poor’s rated the deal, called Paragon 18. The ‘AAA’-rated, class A notes with a weighted average life of 2.95-years priced at 115 basis points over the three month Libor. The ‘AA’-rated, class B notes with a weighted average life of 3.22 years240 basis points over the three month Libor and the ‘A’-rated, 3.22-years, class C notes priced at 240 basis points over the three month Libor. The unrated class D notes were retained by the issuer.

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