Dilosk raises €200m with latest public bond
Summary
9 DAC, are rated from AAA to B by Moodys and Standards & Poors and listed on Euronext Dublin. "It is a great achievement to now follow with our ninth public transaction and our third backed solely by Buy-to-Let mortgages. "This transaction further solidifies our prominent role as an Irish Bond Issuer within the European capital markets," said Fergal McGrath, CEO of Dilosk.The European capital markets remain very strong currently, with Investors seeking mortgage backed bonds from Mortgage Lenders with a strong Issuance track record and solid mortgage lending capabilities," he added.The majority of the deal consisted of a Class A tranche (AAA rated) which was strongly oversubscribed by 3.6 times, enabling us to price tighter than initial price range. "Dilosk raised 400m from the issuance of an owner-occupier bond at the start of the 2024, and acquired a 400m portfolio of mortgages from Ulster Bank earlier this month. The group has raised some 2.6bn through its nine capital market transactions to date.Accounts for Dilosk DAC show the company had net assets of 85.2m at the end of 2022 after reporting turnover of 47.3m for the previous 12 months.