Apr 3rd 2019

Dilosk DAC Announces the Launch of its Third Public Bond Securitisation

Irish financial services company, Dilosk DAC, today announces the launch of its third public bond securitisation, through the issuer Dilosk RMBS No.3 DAC. The issuance will be circa €210 million. The bonds will be secured by Dilosk’s own originated Irish Buy-To-Let Residential Mortgages under its ICS Mortgages brand. The mortgages have been advanced since the commencement of its new lending business in January 2017. 

The offering consists of 5 classes of bonds which will be listed on Euronext Dublin and will be rated by Standard & Poor’s and DBRS Ratings Limited. 

The offering follows Dilosk’s previous two bond securitisations in May 2015 and November 2018 respectively and is part of the Company’s long-term growth plan for its new residential mortgage lending business in conjunction with acquiring performing mortgage portfolios. 

NatWest Markets has been mandated as Sole Arranger and NatWest Markets and Citi have been mandated as Joint Lead Managers. 

Dilosk management will be available for Investor roadshow meetings commencing 4th April 2019 in London and other European cities throughout the week. Pricing of the transaction is expected to take place thereafter. 

According to Fergal McGrath, CEO and co-founder of Dilosk, “We are delighted to announce our third securitisation, following two very successful public securitisations in 2015 and 2018, which were both over-subscribed. Our company’s long-term growth plan is to acquire existing performing and reperforming residential mortgage books, in addition to new mortgage lending where we currently specialise in the residential investment (Buy-to-Let) mortgage market”. 


Dilosk DAC trading as Dilosk and ICS Mortgages is regulated by the Central Bank of Ireland 

Media Queries: 

Joan Gleeson, Head of Marketing and Communications, Dilosk, 

Ph: +353 86 2468350 


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