Holidays and credit work make BPAA wait

Province of Trento
By Tom Porter
08 Dec 2014

An Italian public holiday could keep Banca Popolare dell’Alto Adige from pricing its secondary reoffering of RMBS notes until the middle of this week, with accounts also taking time to do credit work on the rare name.

Reoffer agents Credit Suisse, Deutsche Bank and Natixis issued initial price thoughts for the resale of Voba No. 5 RMBS notes last Tuesday, saying the deal could be priced by Friday subject to investor credit work.

However, with a public holiday in Italy on Monday and many accounts ...

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