edeus announces £1 billion milestone

The latest sale, which has enabled edeus to reach the milestone, has taken place with Topaz Finance PLC, a wholly owned subsidiary of ABN AMRO Bank. The sale, worth £200 million, completed on 30 July 2007, and is the first trade to be made with Topaz.

edeus has now completed a total of 6 whole loan sales to a variety of funding partners, all within the last five months.

Commenting on the trade, Richard Monahan, head of asset management at edeus, said: "Reaching the £1 billion mark is a tremendous achievement, and the fact that we hit this milestone with a new funding partner shows the diversity of our whole loan sale strategy. It has been a pleasure to work with the team at Topaz, and I hope this trade is the first of many."

Rizwan Hussain, head of portfolio arbitrage & management for ABN AMRO and board member of Topaz Finance PLC, added: "ABN AMRO through Topaz has established a significant presence in the UK whole loan market this year. This transaction continues to highlight our commitment to provide liquidity to the secondary mortgage market, whilst providing value to our partners. We hope to develop the relationship forward with further successful transactions with edeus"