LONDON, May 2, 2024
/PRNewswire/ -- ColCap Financial UK Limited (ColCap UK) and Molo
Tech Limited (Molo) have successfully completed their first
securitisation, 'Molossus BTL 2024-1'.
The securitisation totals £300 million of prime UK buy-to-let
mortgage loans in England and
Wales. It is a Residential
Mortgage-Backed Security (RMBS) transaction.
ColCap is a leading privately-owned, Australian non-bank lender
specialising in residential mortgage loans. Founded in 2006, it has
a loan portfolio in excess of AUS $14.0
billion. ColCap invested in Molo, an award-winning digital
buy-to-let lender, in February 2023
via its UK subsidiary, ColCap UK.
The diversified pool of underlying mortgage assets has generated
significant interest and strong investor demand.
The securitisation received a AAA(sf) rating from global credit
rating agencies Fitch and S&P Global Ratings respectively. The
ratings were for 87.5% of the pool and the senior tranche was
priced at 0.95% over SONIA.
Macquarie Bank and Standard Chartered Bank acted as Joint
Arrangers and Macquarie Bank, Standard Chartered Bank, and
Citigroup acted as Joint Lead Managers.
ColCap UK's Treasurer, Paolo
Tanca, commented, "This deal represents a significant
milestone for us, showcasing our ability to structure and execute
successful RMBS transactions in the UK market. We are excited about
the opportunities for future growth and expansion."
Echoing this sentiment, ColCap UK's Executive Director and
COO, Esther Morley added
"Today's successful RMBS announcement demonstrates growing
confidence in the UK property market and in the quality of Molo's
buy-to-let portfolio. This strategic move with Molo is the first of
many and demonstrates our commitment to innovation. It also marks
the beginning of a new chapter for ColCap in the UK market. It sets
the stage for further collaborations and growth opportunities,
benefiting both our UK operations and our broader global presence,
including ColCap Australia."
Commenting on the achievement from Molo's perspective, CEO
Matt Kimber, stated, "The
success of this RMBS highlights the strength of Molo's mortgage
lending capabilities and the credit quality of our originations. It
enables us to continue empowering landlords with accessible and
innovative lending solutions while reinforcing our position as a
leader in the buy-to-let mortgage market."
About ColCap
ColCap is a Sydney-headquartered privately owned leading
non-bank lender specialising in residential mortgage loans. ColCap
was founded in 2006 and currently has a loan portfolio in excess of
AUS $14.0 billion.
ColCap lends in Australia and
the UK primarily through:
- the Wholesale lending brand Origin Mortgage Management
Services, which services Mortgage Managers that offer
white-labelled mortgage loans;
- the Broker lending brand Granite Home Loans, which offers
selected loan products to borrowers utilising aggregators and
mortgage brokers;
- the award-winning Retail lending brand Homestar Finance,
which offers mortgage loans directly to borrowers; and
- the digital mortgage lender Molo within the UK market,
offering mortgage loans to both UK and non-UK resident
borrowers
For further information about ColCap please visit
www.colcap.co.uk
About Molo
Molo is an award-winning digital mortgage lender in the UK,
established specifically to improve customers' experience in
obtaining a mortgage, leveraging technology to deliver simpler and
faster online mortgage lending. Since it launched in 2018, Molo has
led change in the UK mortgage industry with over £1.8 billion
mortgage applications submitted across their digital platform to
date.
Molo is backed by ColCap Financial Limited.
For further information about Molo please visit
www.molofinance.com.
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