Blackstone returns to Spanish RMBS market with €172m trade

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By David Bell
05 Dec 2017

US private equity firm Blackstone is returning to the Spanish RMBS market to fund a portion of a portfolio acquired from CatalunyaCaixa in 2015, as other large Spanish property portfolio sales stir hopes of greater supply from the sector.

Blackstone’s €172m deal, SRF 2017-2, follows a €400m deal it closed in March this year. The senior triple-A notes of that deal were sold at 90bp over three month Euribor, with books said to be more than 1.9 times subscribed.

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