Clifden targets Thrones with tender as Mars plans refi

Clifden IOM, the controversial fund which unsuccessfully tendered for UK non-conforming RMBS from the RMAC series earlier this year, has launched another bid to squeeze cash out of a securitization. This time it is targeting Thrones 2013-1, which is sponsored by Mars Capital and is about to be refinanced.

  • By Owen Sanderson
  • 12 Jun 2018

On June 1, a notice from the issuer said that the deal would be called in July. This prompted Clifden to announce a tender the following Monday, offering 95 for the bonds, but with a massive 30 point early tender premium for bonds tendered before June 22.

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3 Lloyds Bank 6,979 21 9.74
4 Citi 6,256 16 8.73
5 JP Morgan 5,220 8 7.29

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