A&O Shearman Advises NatWest Bank on Inaugural GBP2 Billion UK RMBS

"A&O Shearman advised NatWest Bank plc on a residential mortgage‑backed securities transaction backed by UK mortgages with a GBP2 billion portfolio. NatWest Markets arranged and acted as lead manager. The capital structure included a GBP1.78bn Class A1 note, Class A2–G notes, a Class R note and residual certificates. The deal is NatWest Bank’s first stand‑alone securitisation achieving accounting derecognition."

A&O Shearman represented NatWest Bank plc on a residential mortgage‑backed securities transaction, with NatWest Markets arranging and acting as lead manager. The transaction was backed by a portfolio of UK residential mortgages with a portfolio value of GBP2 billion. The capital structure comprises a GBP1.78bn Class A1 note alongside Class A2–G notes, a Class R note and residual certificates. The deal marks NatWest Bank’s first stand‑alone securitisation of residential mortgage assets that achieves accounting derecognition, underlining its strategic importance and complexity and establishing an important market benchmark. A&O Shearman represented NatWest Bank plc with a team composed by: Sally Onions, Partner (London); Neil Grant, Senior Associate; James Sweeney, Associate (London).

A&O Shearman Advises NatWest Bank on Inaugural GBP2 Billion UK RMBS

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