Storm squeezes market to record tights for 2011
Obvion’s Storm 2011-3 RMBS closed on Wednesday at a tighter level than any other RMBS this year, hitting a price of 90bp for the Eu150m two year ‘A1’ tranche and 125bp for the Eu550m five year ‘A2’ tranche.
This was the tight end of the guidance, confirmed on Tuesday as the 95bp area and 125bp-130bp though not as tight as Storm 2010-1, which got down to 80bp on the short tranche in March last year.
"Storm is the blue riband programme," said a syndicate banker at
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