Santander grabs LTRO bid, funds well inside covered
Santander UK’s Holmes 2012-1, the first UK RMBS of the year, has raised £2.2bn-equivalent and established three year euros as a new sweet spot — a sharp contrast to the dollar-denominated issues of 2011. While the three year dollar tranche stayed at $500m, sized to demand, the three year euro tranche ballooned during bookbuilding on Tuesday.
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