Valtion asuntorahasto, the Housing Fund of Finland, priced its fifth and largest securitisation of loans to social housing providers last Friday to overwhelming demand from investors eager for an asset with an almost perfect credit record. BNP Paribas, Credit Suisse First Boston and Leonia Corporate Bank were joint bookrunners for the Eu800m deal, backed by loans that the Housing Fund (ARA) extends to local institutions that build, buy and refurbish housing to rent out at below market rates.
October 13, 2000