IMI opens books on fixed rate Monviso

Banca Sella 230x
By Owen Sanderson
26 Jun 2014

Sole lead and arranger Banca IMI has opened books on Monviso 2014, a consumer lease ABS from Banca Sella subsidiary Consel.

The deal will be a €240m 1.88 year senior with a fixed rate quarterly coupon. Initial price thoughts are 1.4%-1.5%, equivalent to interpolated mid-swaps plus 120bp-130bp.

Comparables used by the leads include Sunrise 2014, which was priced on June 20 at 97bp, and is now bid 10bp tighter. ...

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