Claris gets ‘good result’ after going wider
Lead managers JP Morgan and Natixis priced Veneto Banca’s Claris RMBS 2011 on Thursday but while the A1 tranche was sold at the initial guidance, the A2 tranche required a wider price to clear.
The Italian originator sold a Eu175m A1 tranche at 120bp over three month Euribor and a Eu385m A2 tranche at 165bp over. That was 5bp back of initial guidance after the leads widened guidance on Thursday morning.
At final pricing, the 2.99 year average life A2 piece was just
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