Leek brushes up against prime RMBS as leads test 13bp

06 Apr 2006

Platform Funding launched Leek Finance No 17 Plc last week, pushing against the boundaries of non-conforming RMBS. The lead managers, JP Morgan and RBS, tested 13bp, just two basis points off prime spreads, before pricing the deal at 14bp.

The leads had gone out with initial guidance of 14bp ...

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