It took the property finance platform six business days to price the transaction after opening investor discussions.
The securitisation received an AAA (sf) rating for 85% of the pool from credit rating agencies Fitch and S&P Global Ratings.
The senior tranche was priced at 1.07% over Sterling Overnight Index Average (SONIA).
Citi acted as the sole arranger for the transaction, with Citi, National Australia Bank and JP Morgan acting as joint lead managers.
"When we launched the roadshow for this transaction, no one could have predicted the full extent of the market turmoil that was about to unfold,” said Rod Lockhart, chief executive at LendInvest (pictured above).
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“It has been a truly unprecedented and unusual environment to agree and settle a transaction as substantial as this for LendInvest — let alone the whole UK mortgage market.
“The circumstances mean it’s all the more rewarding to have returned to the RMBS market as emphatically as we have done with this transaction.”
Rod added that the company’s “much-improved pricing and appetite” for the transaction has proven its liquidity, funding model and the resilience of its wider business strategy to “withstand market uncertainty”.
“This transaction ensures our levels of BTL lending needn’t dip over the coming months as the world works through this most unusual time.”
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