Books up, spreads down for Obvion’s Storm

By Tom Porter
25 Sep 2014

Both tranches of Obvion’s Storm 2014-III Dutch RMBS transaction were set to be priced well inside initial guidance on Thursday, showing it is not just the wider end of the ABS market benefitting from the European Central Bank’s backing.

Leads Citi and Rabobank have set the spread on the fast pay two year notes at 25bp over three month Euribor and the slow pay five year notes at 35bp over the same benchmark, both at the tight end of official guidance.

Books across the two tranches had reached ...

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