The ECB effect: Banif SME deal to test new bid for periphery ABS

By Tom Porter
11 Sep 2014

Portuguese lender Banco Internacional do Funchal (Banif) has launched a securitization of Portuguese SME loans that will include a sale of triple-B rated debt, in an immediate test of whether the European Central Bank has managed to stimulate a new wave of appetite for periphery ABS with last week’s promise to buy up bonds.

Banif has mandated Deutsche Bank as sole bookrunner and joint arranger alongside its own investment banking arm for Atlantes SME 4, and began a roadshow for the deal on Wednesday.

The state owned financial services group is publicly offering investors €465m of A-/A rated 1.35 year bonds, in ...

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