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Silverstone Master Issuer 2018-1: 26 February 2018


After an absence of two years, this will be the ninth public issuance from Nationwide Building Society’s £35bln RMBS Master programme, of which three transactions are still outstanding. Including this issue, the aggregate principal amount of outstanding notes issued will be: Class A £4.519bln, Class Z £1.635bln.

The expected portfolio as at the cut-off date (30 November 2017) consisted of 124,607 loans originated by Nationwide and secured over properties located in England, Wales, Northern Ireland and Scotland, having an aggregate true balance of £9.278bln as at that date. The average outstanding principal balance is £74,461 and the largest loan in the pool is for £921,056. Overall, there are 90 loans of at least £500,000, but these represent just 0.57% of total outstandings.


Compare/contrast: Silverstone Master Issuer 2016-1, Lanark Master Issuer 2018-1