Dollars set to deliver for Lanark despite STS absence
The inclusion of a dollar tranche and the relatively small size on offer should lead to a strong result for Lanark 2019-1, the first public consumer new issue in European securitization this year, despite originator Clydesdale Bank opting not to use the new ‘simple, transparent and standardised’ regulation, as outlined by European Banking Authority (EBA). The spread level, roughly twice that of the last Lanark issue, should also help it fly.
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