Lehman RMBS holders set to cash in

By Owen Sanderson
30 Jul 2014

A £44m block of Eurosail 2007 6NC A2A is up for sale on Thursday afternoon, following a restructuring process that could have made the holders as much as 40 points.

Eurosail 2007 6NC, along with the other Lehman-sponsored UK RMBS deals, had Lehman as a counterparty for all manner of deal functions, including, crucially, the currency swaps. Following the Lehman bankruptcy, the mismatch between the underlying sterling-denominated mortgages, and the euro- or dollar-denominated bonds, led to drastic rating ...

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