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Spanish Bank Marketing $7.2 Bln RMBS

14 Nov 2007

Banco Bilbao Vizcaya Argentaria is coming to market with its second mortgage-backed securitization of the year, BBVA RMBS 4, Fondo de Titulizacion de Activos.

-- Leo Shvartsman

Banco Bilbao Vizcaya Argentaria is coming to market with its second mortgage-backed securitization of the year, BBVA RMBS 4, Fondo de Titulizacion de Activos. The floating-rate notes are preliminarily pegged at €4.9 billion ($7.2 billion). BBVA is the originator, servicer, paying agent and interest swap counterparty on the deal. Officials at BBVA declined to comment on the transaction until it was closed.

Standard & Poor’s rated the deal, which has three AAA class A notes, an A-rated class B piece and a BBB class C tranche. S&P officials did not immediately return calls.

14 Nov 2007

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