Enra Specialist Finance Successfully Secures Fourth Securitisation Deal

Enra Specialist Finance is pleased to announce the successful completion of its fourth public securitisation, Elstree 4. This landmark securitisation encompasses a substantial portfolio of first charge, buy-to-let, and second-charge mortgages, all of which were originated under Enra’s lending brand West One Loans and securitised through its Elstree securitisation platform.

The proceeds from this transaction will play a pivotal role in assisting Enra, as well as its subsidiary West One, to achieve their lending targets over the next 12 months.

Contrary to initial expectations, the deal garnered exceptional demand, resulting in tight pricing and an over-subscribed order book. The deal size was consequently increased from £250m to £340m, indicative of the strong investor interest.

Qasim Jafri, director of funding solutions at Enra Specialist Finance, expressed his utmost satisfaction with the outcome, stating: “We have achieved a highly favorable outcome on Elstree 4. I am delighted that existing investors in prior Elstree deals continue to support the business, and that new investors have been successfully attracted by the strength and maturity of Enra’s business, and the high credit quality of the loans it originates.”

Emily Gestetner, Chief Financial Officer at Enra Specialist Finance, also provided commentary on the successful securitisation, stating: “Elstree 4 represents a promising start to 2024, and the culmination of significant effort from the treasury team to uphold robust engagement with our investors, prudently optimize our securitisation structures, and to fortify Enra’s reputation as a dependable repeat issuer of high-quality specialist lending RMBS.”

The successful culmination of this securitisation serves as a testament to the strength and maturity of Enra Specialist Finance and its unwavering dedication to providing high-quality specialist lending solutions. This achievement signifies a significant milestone for the company and underscores its commitment to meeting the needs of its investors and borrowers.