Dollar tranche helps Lloyds draw demand for Permanent in first MBS deal of 2010

Lloyds Banking Group, which reopened the European ABS market last September with its UK master trust RMBS Permanent 2009-1, is set to price the first mortgage backed deal of the year today (Friday). The £2.47bn equivalent issue from the same trust will also mark the first European ABS since the start of the credit crisis to carry a US dollar tranche.