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Article: Buildup to Barcelona picks up some steam.
- Article from:
- Asset Securitization Report
- Article date:
- May 24, 2004
- Author:
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European ABS primary market issuance was fuelled last week by a number of large RMBS deals, with spread indications still pointing to strong investor demand. The performance has many believing the market is set to keep on ticking up to the rapidly approaching gathering in Barcelona next month.
Northern Rock's granite deal priced last Wednesday, and based on the demand, dealers were able to upsize the transaction to GBP3.65 billion (US$6.48 billion) from GBP3 billion (US$5.33 billion) originally on offer. An extra triple-A sterling tranche was added onto series 2, and price talk for the euro and sterling pieces tightened at the beginning of the week. Industry ...