Latest Irish RMBS deal draws a crowd

PA-Irish fan happy
By Sam Kerr
18 Oct 2017

Euro ABS investors flocked to an Irish RMBS deal from Permanent TSB that was priced on Wednesday, with the bonds well oversubscribed throughout the capital stack.

The senior notes were priced above par at a discount margin of 28bp over three month Euribor. The bonds are the latest to follow the market trend for European ABS to be priced at effective negative yields. The notes were 2.6 times covered.

“We always wanted to price ...

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