Intesa clears hurdles in RMBS collateral test

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Intesa clears hurdles in RMBS collateral test

Italy’s Intesa Sanpaolo relaunched issuance of covered bonds secured by residential mortgage backed securities this week when it sold a Eu1bn five year issue that overcame reduced line availability for Italian debt and some resistance to the deal’s structure. Axa Bank Europe is expected to further test appetite for such a product by launching its own deal soon.

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