Obvion sets the mood for European ABS

By Graham Bippart
07 Sep 2015

Investors are back in their seats and clearly hungry for paper, as illustrated by the final book size on Obvion’s recent Storm Dutch prime RMBS, but spreads aren’t likely to shoot back to pre-summer levels as macroeconomic uncertainty abides.

Lead managers on Storm 2015-II, Citi and Rabobank, priced the top class of the deal in line with guidance on Friday at 35bp over three month Euribor. That is 9bp wider than the similar tranche off of its last deal, sold ...

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