Portuguese RMBS Coming Soon
Banco Espirito Santo's debut residential mortgage-backed securitization will hit the market next week, says Adrian Carr, head of syndication at Credit Suisse First Boston, one of the lead managers. Called Lusitano, the E1 billion deal, will be roadshowed this week, says Carr. Deutsche Bank is also a lead manager on the deal.
Price talk was not available as of press time last Thursday. The deal is backed by mortgages subsidized by the Portuguese government. Another Portuguese bank, Caixa Economica Montepio Geral, is said to be launching a E500 million RMBS early next year.