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NRAM annoys investors as it tenders then redeems at par

07 Jul 2011

Northern Rock Asset Management announced on Thursday that it plans to terminate the CDS swap with KfW for its Provide Graphite 2006-1 synthetic RMBS. As a consequence, it will redeem all the credit-linked notes at par on August 10, which is the next interest rate payment date.

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07 Jul 2011