West Bromwich Building Society is planning the first investor-placed prime U.K. residential mortgage securitization of the year— a £380 million ($579 million) senior tranche from the deal Kenrick No. 2.

Moody’s Investors Service has assigned preliminary ratings of 'Aaa' to the class A floating rate notes due 2049. The deal also has class B floating rate notes due 2049 that are unrated by Moody's.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.