ICS Mortgages looks for bigger share of market after raising €500m

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Dilosk, the parent of ICS, marketed bonds backed by a portfolio of existing owner-occupier mortgages via IrishTimesBiz

“We are delighted to have placed our largest bond issuance since inception at €500 million in size which has been structured to comply with the simple, transparent and standardised criteria for securitisations enabling us to broaden our investor base,” said Mr McGrath.

“It represents another positive milestone for Dilosk and our ICS Mortgages brand and will enable our ambitions to increase our share of the Irish mortgage market over time. “Whilst our sixth public deal, it is Dilosk’s first public bond securitisation backed by 100 per cent of prime Irish owner-occupier mortgages. Securitisation markets continue to play a key role in our funding plans combined with other funding arrangements.”

He added: “Whilst the capital markets have been volatile during 2022 and in particular over the past few weeks, this successful placement is an indicator of investor confidence in our mortgage lending and recognition of the high-quality mortgages that we originate. “Since 2015, we have now raised €1.8 billion through six transactions in the international capital markets.”

 

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