LONDON--OneSavings Bank PLC (OSB.LN) said Thursday that it has sold a portfolio of mortgage backed loans to Morgan Stanley, generating an exceptional pretax gain of roughly 25 million pounds ($36.24 million).

The company plans to use the sale proceeds in part to support additional net loan book growth in 2016, which it now anticipates to be marginally ahead of previous guidance of 20%.

The British specialist lender has sold its entire economic interest in the Rochester Financing No.1 PLC secularization for a cash consideration of around GBP95 million. Morgan Stanley is purchasing the C, D and E notes and will launch a formal auction process for the class F notes and residual certificates issued by Rochester 1.

The deal is expected to close in June.

Shares of OneSavings Bank at 1302 GMT trading 3.3% higher at 319 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

May 26, 2016 09:21 ET (13:21 GMT)

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