NIBC praised for Sound as ‘A’ holders hang on to notes

02 Nov 2012

All the class ‘A’ noteholders in NIBC’s Sound 1 RMBS have opted to hold on to their bonds, the bank said on Tuesday, in announcing the results of its tender offer. Analysts praised the bank for the way it carried out the exercise.

NIBC had offered to buy back bonds from all seven tranches of Sound 1 in the tender, which it launched at the beginning of October. The Dutch bank has bought back all the outstanding notes from classes ‘B’ down to ‘F’, along with 99.42% of the new class ...

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