|
|
Article: Ambac Assurance UK Limited Announces Secondary Market Program.
- Article from:
- Business Wire
- Article date:
- November 19, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
NEW YORK--(BUSINESS WIRE)--Nov. 19, 2002
Ambac Financial Group, Inc. (NYSE: ABK) (Ambac) announced today that its UK subsidiary, Ambac Assurance UK Limited (Ambac UK) has initiated its European secondary market insurance program.
The program allows an investor to obtain Ambac UK insurance with respect to a structured finance or asset-backed bond under UK law and then transfer that bond and insurance policy in the secondary market via Euroclear or Clearstream. The Bank of New York (BONY) will provide administrative services for the program. Ambac's proprietary name for this product is Euro Transferable Custodial Receipt, in ...