Bloomberg News

RBS Said to Price $5.5 Billion of Bonds Backed by U.K. Mortgages

October 10, 2011

Oct. 10 (Bloomberg) -- Royal Bank of Scotland Group Plc priced about $5.5 billion of bonds in dollars, British pounds and euros backed by U.K. mortgages, according to a banker familiar with the transaction.

Arran Residential Mortgages Funding 2011-2 Plc is tied to GBP3.57 billion ($5.6 billion) of prime residential mortgage loans originated through RBS and National Westminster Home Loans, said the banker, who declined to be identified because the deal is private.

RBS will retain some of the notes, while JPMorgan Chase & Co. and Citigroup Inc. led investors that plan to purchase other portions of the bonds, the banker said.

The three lenders, Bank of America Corp. and Wells Fargo & Co. arranged the transaction.

To contact the reporter on this story: Esteban Duarte in Madrid at eduarterubia@bloomberg.net

To contact the editor responsible for this story: Pierre Paulden at ppaulden@bloomberg.net


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