Portuguese Bank Considers RMBS Sequel
BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
Banco Espirito Santo (BES) is contemplating bringing a residential mortgage-backed securitization to market this year. Elsa Jardim, an investor relations manager in Lisbon, says the bank is currently studying its funding options and securitization is among them. She would not specify when the bank's next RMBS transaction would hit the market.
BES' first RMBS deal came to market last December. That E1 billion deal was backed by government-subsidized mortgages and co-lead managed by Credit Suisse First Boston and Deutsche Bank. BES has also brought lease deals and collateralized debt obligations to market in the past.