Argenta Spaarbank longer duration STS deal moves tighter

European securitization investors this week are pricing longer duration deals tighter than earlier in the year, made comfortable by the ‘simple, transparent and standardised’ (STS) label. This is being demonstrated on Tuesday by Argenta Spaarbank's Green Apple RMBS deal.

  • By Tom Brown
  • 18 Jun 2019

“There isn’t very much of it,” said a managing director at a syndicate desk away from the deal, referring to STS paper. “If you look at the Green Apple deal it is doing phenomenally well. It looks like the long duration is not really bothering people.”

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1 Citi 4,347 16 16.63
2 BNP Paribas 2,866 11 10.96
3 Morgan Stanley 2,420 6 9.26
4 Goldman Sachs 2,276 6 8.71
5 Bank of America Merrill Lynch (BAML) 2,086 9 7.98

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4 Wells Fargo Securities 40,627.46 119 7.48%
5 Credit Suisse 38,293.05 120 7.05%