Banco BPI opts for UDA in latest Portuguese RMBS buyback

portuguese houses
By Tom Porter
03 Apr 2014

Banco BPI is returning to some of its DOURM RMBS programme bonds for the third time with a tender offer for 10 bonds, restarting a trend of periphery ABS buybacks that has been notably absent in 2014.

Portuguese banks joined periphery peers in taking advantage of depressed RMBS prices in 2012 and 2013 to book accounting profits and improve regulatory capital positions.

Banco BPI tendered for all 10 bonds in a buyback in January 2012, while the DOURM 1 Class A, DOURM 2 Class A2 ...

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