A&O Shearman advises Santander UK on £1.4bn UK RMBS portfolio transaction

"A&O Shearman advised Santander UK on a £1.4bn provisional portfolio RMBS backed by UK residential mortgages that closed on 17 June 2026. Bank of America arranged the transaction and acts as risk retention holder; Bank of America and Banco Santander were joint lead managers. The portfolio included non-performing and re-performing buy-to-let and owner-occupied loans."

A&O Shearman advised Santander UK on a GBP1.4 billion provisional portfolio RMBS transaction backed by UK residential mortgages, which closed on 17 June 2026. The transaction, which builds on the Frontier 2025-1 deal, involved the sale of a substantial portfolio of non-performing and re-performing loans comprising both buy-to-let and owner-occupied mortgages. Bank of America arranged the transaction and will act as the risk retention holder. Bank of America and Banco Santander acted as joint lead managers. The issuance comprises a Class A NRR Loan Note together with Class A–G Notes, a Class Z Note, a Class X Note, RC1/RC2 Certificates and Class S Certificates. Salim Nathoo commented that the deal demonstrates the effectiveness of Santander UK’s balance sheet management strategy and reflects market confidence in its assets. A&O Shearman represented Santander UK with a team composed by: Salim Nathoo, Partner (London); Graeme MacDonald, Senior Associate (London). Santander UK in-house legal team represented Santander UK with a team composed by: Valentina di Vito, Legal Advisory and Structuring; Jamie Adams, Senior Manager; Jasmine Panesar, Funding Manager.

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A&O Shearman advises Santander UK on £1.4bn UK RMBS portfolio transaction

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A&O Shearman advises Santander UK on £1.4bn UK RMBS portfolio transaction

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