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

TOPICS:
SantanderUK

Posted By: The Corner 10th October 2023

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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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.