Dignity taps whole business securitisation
Royal Bank of Scotland priced a £72m tap of funeral home operator Dignity’s 2003 whole business securitisation, the first non-utility whole business issuance since the credit crisis.
The £48.65m tap of Dignity Finances single-A rated A notes was priced at 130bp over Gilts, in line with guidance, while the £33.1m tap of the triple-B rated B notes came 5bp inside initial guidance at 195bp over.The pricing followed bondholder approval of amendments to the documentation allowing ...
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