Monoline returns as Assured wraps UK student housing bond

By Jon Hay
26 Jul 2013

Holyrood Student Accommodation, a project company building student housing for the University of Edinburgh, raised £62m on Wednesday with a long term bond guaranteed by Assured Guaranty Europe, the monoline bond insurer.

RBC Capital Markets led the secured deal, which comprised equally sized £31.505m tranches, with a 35 year maturity and average life of 22.5 years. One tranche was fixed rate, the other inflation-linked.

The bond marks a further step in the return of monoline bond insurance as a source ...

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