Market cheers B&B mortgage bonanza
A last minute decision by UK Asset Resolution (UKAR) to sell a larger than expected chunk of Bradford & Bingley mortgages was a development welcomed by the market, even as investors bought into the deal at very tight levels.
The Blackstone-issued offering — Ripon Mortgages — was priced to high demand last week, but the final size of the offering was a surprise to investors.
While the issuers
had set a minimum placement size, there was a debate
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