OSB Group PLC (GB:OSB) has released an update.
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OSB Group PLC has announced a securitisation of approximately £1.25 billion in Buy-to-Let mortgages through its subsidiary Charter Court Financial Services Limited. This move is aimed at enhancing the Group’s balance sheet by removing these mortgages and boosting its CET1 ratio by 0.6 percentage points. The funds from this transaction will be used to repay the Bank of England’s Term Funding Scheme for SMEs.
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