Bank of America and Natixis squeeze RMBS through Libor cut-off window
Paratus is bringing a UK buy-to-let RMBS via arrangers Bank of America and Natixis. The deal's coupons will be linked to the Libor benchmark rather than Sonia, to which the majority of the sterling securitization market switched over before the Global ABS Barcelona conference.
This is because the last Libor fixing for the deal occurs on December 12, 2021 before the step-up date, inching ahead of the January 1, 2022 deadline, which the Bank of England has marked for the discontinuation of Libor.
The Financial Conduct Authority (FCA) announced that support ...Please take a trial or subscribe to access this content.
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