Strong demand for Arkle, UK prime prices stalled
The secondary market for UK prime RMBS paper remains stubbornly sluggish despite a rally in broader credit markets this year. But there is no shortage of interest in primary issuance, with demand for Lloyds Banking Group’s latest Arkle RMBS reported to be strong.
Bankers said on Thursday that books had gone subject on all tranches except the five year sterling. Book size was said to be well above what Lloyds originally intended to print. Final tranche sizes have not been determined final approvals were in progress as EuroWeek
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