ABS back in public after Nationwide triumph

Nationwide pulled off the first fully public ABS deal since the re-eruption of the sovereign crisis, bagging $3.58bn equivalent from its Silverstone 2011-1 issue. The deal could spell an end to the spate of private placements and club deals that have characterised the market since July, but questions remain over the depth of demand in sterling and euros, after Nationwide placed 90% of the deal in dollars.