Iccrea ABS buyback falls flat

02 Aug 2012

Iccrea BancaImpresa bought back no bonds this week through its tender for Agri Securities 2006-1 ‘B’, a series backed by leases for agricultural equipment.

The Italian bank already holds €27m of the class ‘B’ triple-B rated notes. This tender targeted the remaining €76.5m of bonds in that tranche, which has not yet started to pay down.

The A2 tranche, in contrast, has only €40m still to pay down, compared with more than ...

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