UCI sees big response for 2014’s first Spanish RMBS tender

Spanish property
By Tom Porter
28 Jul 2014

Unión de Créditos Inmobiliarios was able to repurchase almost half of the bonds it invited investors to tender last week, with bondholders responding to some healthy premiums to secondary market prices in what was the first Spanish RMBS tender of the year.

The Spanish mortgage lender tendered for up to €72.5m of RMBS earlier this month. The offer included €34.1m of UCI 14 B notes and €38.4m of UCI 14 C notes, both of which had not been targeted for repurchase before.

UCI has been active with liability management in ...

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