BANIF finds swathe of investors for SME ABS

By Joseph McDevitt
24 Jan 2014

Portugal’s BANIF demonstrated that demand for peripheral securitizations is buoyant and well diversified after it sold the senior notes in its securitization of Portuguese SME loans to more than 25 investors.

Lead managers StormHarbour Securities and BANIF put out guidance earlier this week of three month Euribor plus 190bp-200bp for the €437.5m class ‘A’ tranche. The tranche has a A-/A(low) (S&P/DBRS) rating, one year weighted average life and 51.3% credit enhancement.

The deal attracted €700m of orders from ...

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