GC Asia
First publicly placed STS mortgage deal sees huge demand
Storm 2019-1 priced on Wednesday with seniors pricing in line with guidance at 27bp. Joint leads JP Morgan and Rabobank released final terms for the €1.95bn senior tranche on Obvion's Dutch RMBS deal with final books in excess of €2.75bn. The deal is the first publicly placed RMBS to achieve 'simple transparent and standardised' status.
The senior tranche was increased to €1.95bn and had a WAL of 4.9 years.
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