Storm boosts size in booming market
Lead managers Rabobank and Société Générale are aiming to increase the size of Storm 2012-1, a Dutch RMBS from Rabo subsidiary Obvion. The leads set the spread on Wednesday, fixing a level of 110bp for the ‘A1’s and 155bp for the ‘A2’s. This is already 10bp tighter than initial guidance on the ‘A1’ tranche.
No final size had been confirmed when EuroWeek Bank Finance was published, but the increase could take the deal up to 1.145bn of senior notes up from 700m when the deal was announced.
Leads will confirm the increased size with investors ahead of final pricing this early afternoon.
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