Italian consumer ABS enters negative yield territory

An Italian consumer ABS transaction was priced at a negative yield on Tuesday, as euro ABS buyers continue to deal with a tightening market with no end to the trend in sight.

  • By Sam Kerr
  • 10 Oct 2017

Sunrise 2017-2, sold by Crédit Agricole subsidiary Agos Ducato Spa., was priced at 33bp over one month Euribor. The final discount margin was at the tighter end of price guidance. The order book was two times oversubscribed.

The deal was arranged by Crédit Agricole and Banca Akros, with ...

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2 Citi 5,781 17 11.29
3 BNP Paribas 3,530 14 6.89
4 Barclays 2,853 9 5.57
5 Credit Suisse 2,783 8 5.44

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5 Credit Suisse 41,885.89 127 5.54%