Virgin Money launches securitisation issue
Virgin Money plc announces today that it is launching its second securitisation issue of the year, Gosforth Funding 2012-2 plc. The transaction will help to diversify both the source and term of Virgin Money plc’s funding base, and support its business strategy including growing its lending.
Notes will be secured on Virgin Money plc’s prime UK residential mortgage assets. Deutsche Bank and The Royal Bank of Scotland have been appointed as joint lead managers for the deal, which is expected to price and close in mid November, subject to market conditions.
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NOTES TO EDITORS
About Virgin Money
- Following the acquisition of Northern Rock plc in January 2012, Virgin Money provides savings, mortgages, credit cards, pensions, investment and protection products to over four million customers
- Virgin Money’s business ambition is to make “everyone better off” – this philosophy underpins our approach to business by offering good value to customers, treating employees well, making a positive contribution to society and delivering a profit to shareholders
- Virgin is the official sponsor of the London Marathon, the biggest annual fundraising event in the world. Virgin Money leads the London Marathon sponsorship with the ambition to help runners raise £¼ billion over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving