Euro ABS issuers dodge swap costs in negative rate environment

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Euro ABS issuers dodge swap costs in negative rate environment

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A8B5WD graph. Image shot 2006. Exact date unknown. | Alamy Stock Photo

European auto ABS issuers have been pushing up coupons and selling deals well over par as Euribor plunged, hoping their new deals can avoid the fate of older deals which are now trading effectively as fixed rate issues.

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