RMBS returns as Lloyds brings Permanent 2010-1

25 Jan 2010

Lloyds Banking Group, which re-opened the European ABS market last September with its UK master trust RMBS Permanent 2009-1, is marketing the first mortgage backed deal of the year with a equivalent issue from the same trust.

Bank of America Merrill Lynch, JP Morgan and Lloyds are joint books on Permanent 2010-1, which is also the first European ABS since the start of the crisis to offer investors a US dollar tranche.
The 144A piece has a 2.95 year expected maturity, apparently designed to appeal ...

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