Credit Suisse scores again in second BlackRock RMBS sale
Credit Suisse on Tuesday won two separate bids for a combined $4.4bn pool of legacy residential mortgage-backed securities sold by BlackRock. The sale comes one week after BlackRock sold a record-breaking $3.7bn pool of subprime mortgage-backed securities, also to Credit Suisse.
The bank won both “all-or-none” offers, traders told GlobalCapital on Tuesday morning. The two AON lists split a $4.4bn pool of pre-crisis mortgage securities that BlackRock acquired from UBS AG in 2008.
Officials at Credit Suisse confirmed the bank’s successful bid.The alt-A paper comprised nearly three-quarters ...