Barclays Plc has priced a mortgage-backed securities transaction that is financing the sale of its Italian home loans to GoldenTree Asset Management LP.
Under the deal, Barclays is transferring the mortgages — which have a €4.1 billion ($4.4 billion) face value — to a special-purpose vehicle called Miltonia Mortgage Finance S.r.l.. Miltonia will then issue notes backed by the mortgages.