Obvion satisfies long dated demand with private Storm RMBS

By Joseph McDevitt
20 Feb 2014

Obvion has priced its first Storm RMBS of the year, privately placing €1bn of senior notes with investors looking for longer dated exposure.

Lead managers Rabobank and JP Morgan only released pricing details for the senior tranche and not the four subordinate tranches, which were retained by Obvion. The €1bn of triple-A rated ‘A’ notes, which have 7% credit enhancement and 5.2 year weighted average life, were priced at par with ...

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