Clifden preps ground for legal fight

After losing its battle to add provisions to some of the bonds in the RMAC series of RMBS, forcing the deals to pay out extra cash to noteholders when called, fund Clifden IOM No. 1 has prepared the ground for legal action on the controversial trade.

  • By Owen Sanderson
  • 13 Mar 2018

On Monday, bonds in the RMAC series were called by Paratus AMC, the deal sponsor, which purchased the underlying mortgage portfolio — and will likely return to the market with a securitization to refinance the book. 

But the bonds in the deal had been the subject of a ...

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3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
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5 Credit Suisse 54,172.98 137 6.67%