To minimal fanfare, the second-ever bank-owned life insurance (BOLI) broker-commission backed ABS recently closed. Called A&K Funding series 2004-1, the deal totaled $60 million and was led by sole underwriter Credit Suisse First Boston, closing in the first quarter as a negotiated private placement.

The $60 million offering, with a 30-year legal final maturity, priced with a 7.87% coupon.

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