Bluestone Mortgages’ £250 Million RMBS Transaction

In UK Dentons, advised on the matter.

Dentons advised Bluestone Mortgages with a team including Matthew Sapte (Debt Capital Markets), Peter Voisey (Picture – Debt Capital Markets), Stuart Fitzsimmons (Finance), Alex Tostevin (Tax Finance).

Bluestone Mortgages executed its most recent RMBS transaction, Genesis Mortgage Funding 2022-1.

The transaction, a £250 million specialist RMBS, is the second issue under the Genesis programme, and refinances portfolios of loans held in two warehouse structures. The pool comprises first-ranking, owner-occupied and buy-to-let mortgage loans, originated and serviced by Bluestone Mortgages Limited, and secured on properties in England, Wales and Scotland.

The arrangers were Macquarie Bank and National Australia Bank. 

Bluestone Mortgages is the residential lending arm of Bluestone Group, a fast growing European specialist lending and fintech business with its headquarters in Cambridge and offices in London, Sheffield and Dublin. Founded in 2000, Bluestone employs a team of over 225 professionals and specialises in secured and unsecured loan origination, portfolio servicing and cloud based technology development in the financial services sector.

Peter Voisey (Picture), partner and co-head of Dentons’ UK Securitisation and Structured Finance practice, led on the transaction. The Dentons team included securitisation associates Kamraan Akhtar, Jimmy Yang and Rita Castelo-Ferreira, derivatives partner Matthew Sapte, tax partner Alex Tostevin and associate Ivan Jelocnik (all in London), partner Stuart Fitzsimmons and banking and finance consultant Morag Campbell (both in Glasgow).

Involved fees earner: Kamraan Akhtar – Dentons; Stuart Fitzsimmons – Dentons; Ivan Jelocnik – Dentons; Matthew Sapte – Dentons; Alex Tostevin – Dentons; Peter Voisey – Dentons; Jimmy Yang – Dentons;

Law Firms: Dentons;

Clients: Bluestone Mortgages ;

Author: Giulia Di Palma