TSB unveils inaugural securitisation
The bond, called Duncan Funding 2015-1 plc, is made up of prime owner-occupied loans originated between 2012 and 2015 with an average loan-to-value of 76.1%.
In June 2014 TSB launched an Initial Public Offering after splitting from Lloyds Banking Group in 2013.
In March TSB was purchased by Spanish bank Sabadell for £1.7bn
A TSB spokesman said: “The issuance is part of our longer term growth plan and is designed to diversify our funding base and support growth.”