Santander UK potentially interested in buying up to £3bn of residential mortgages from Metro Bank


Norbolsa | Metro Bank announced on Sunday a £325m capital increase and a £600m debt refinancing, following a weekend of urgent talks to strengthen its balance sheet and improve its capital ratios. This deal would hand majority control to its largest investor, Jaime Gilinski (53% when the transaction is completed). The debt restructuring will extend the maturity of its loans and holders of the £250m bond due June 28 will receive a 40% cutback. In addition, the bank is also in talks to sell up to £3bn of residential mortgages, where we would find Santander UK, Lloyds, HSBC UK and NatWest among the interested parties (not broken down).

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