Dilosk DAC, which trades as ICS Mortgages, said today that it has completed its 12th public residential mortgage-backed securitisation (RMBS).
It said it raised €441m through the issuance of bonds backed by owner-occupier residential mortgages originated by ICS Mortgages.
The issueance provides long-term funding to support future mortgage lending, it added.
Since launching its securitisation programme in 2015, Dilosk has raised about €3.7 billion through the international capital markets.
It said that today’s transaction attracted strong demand from institutional investors across Europe and was significantly oversubscribed.
Fergal McGrath, co-founder and CEO of Dilosk, said today’s transaction is a significant achievement and demonstrates the continued confidence investors have in Dilosk, its mortgage platform and its long-term growth strategy.
“The transaction further enhances its diversified funding platform and positions it well for future growth,” Mr McGrath said.
“It also follows the recent receipt of CCPC clearance for the proposed sale of Dilosk to Pepper Advantage, an important strategic step that, subject to completion, would support the continued development of one of Ireland’s leading non-bank lending platforms,” he added.
