Investors get taste for Chestnut with EFG’s millionaire RMBS

City of London
By Tom Porter
22 May 2014

ABS investors have been getting in on London’s luxury property boom this week, snapping up a guaranteed RMBS transaction from Swiss private bank EFG International backed by multi-million pound homes in the capital.

EFG pulled in £285m of orders for Chestnut Financing Plc's single £266.3m tranche of triple-A rated 3.25 year notes, which were priced at the wide end of guidance at 75bp over three month Libor by arrangers BNP Paribas and UBS.

One banker away from the deal said the ...

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