Private investors prove thirst for SME ABS

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By Tom Porter
23 Jul 2014

IKB Leasing has been inundated with orders for its first public syndication of German SME ABS since the financial crisis this week, but private buyers were fighting for what was left after the European Investment Bank supported the deal from an early stage.

The €260m German Mittelstand Equipment Finance SA Compartment 2 ultimately comprised a €196.0m triple-A rated 2.3 year senior tranche, a €13m double-A rated four year ‘Class B’ tranche and a €18.3m single-A rated 4.3 year ‘Class C’ tranche, on top of a €34.1m retained subordinated bond.

The senior ...

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