GE Money Bank to securitize retained French RMBS

General Electric
By David Bell
05 Jan 2017

Three senior tranches of a French RMBS transaction retained by GE Money Bank in France last year will be syndicated in the public market, opening up the European primary ABS pipeline in 2017.

The €731m deal, SapphireOne Mortgages FCT 2016-3, was retained by GE Money Bank in December. GEC SAS, a subsidiary of the GE Group, which controls GE Money Bank in France, is looking to place the ‘A’, ‘B’ and ‘C’ tranches of the deal, totalling €672.8m. GEC SAS originally ...

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