Cerberus £6.2 billion RMBS

Overview:

• Cerberus European Residential Holdings and FirstKey Mortgage, subsidiaries of Cerberus Capital Management have undertaken a £6.2 billion securitisation of residential mortgage loans (RMBS).
• The deal is the largest RMBS closed since the 2008 financial crisis.
• The mortgages underpinning the deal are from a portfolio held by NRAM, the successor to Northern Rock's mortgage arm.
• Morgan Stanley acted as arranger and joint lead manager.

Sam Duke - Editor

Read further analysis of this deal on IFLR.com