Caixa Económica Montepio Geral buys back Pelican and Sagres RMBS

By Joseph McDevitt
31 Jul 2013

Portuguese bank Caixa Económica Montepio Geral bought back €63.5m of Pelican and Sagres RMBS in its latest tender offer.

The bank used an unmodified Dutch auction for the exercise, in which it invited investors to submit offers across three series and six tranches of RMBS. Royal Bank of Scotland was the sole dealer manager on the trade. 

It bought back €49.57m of Pelican Mortgages No 1 class ...

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