Mars gets Irish NPL securitization away, despite thin mezz cover

© 2026 GlobalCapital, Derivia Intelligence Limited, company number 15235970, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Mars gets Irish NPL securitization away, despite thin mezz cover

Ireland NPL flag Fotolia

Mars Capital managed to price Grand Canal Securities 2, a securitization of Irish NPLs, at relatively tight levels even though the subscription ratio was relatively thin on mezzanine notes.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login
  • 4,000 annual insights
  • 700+ notes and long-form analyses
  • European securitization issuance database
  • Daily newsletters across markets and asset classes
  • 1 weekly securitization podcast
Gift this article