Deutsche Bank has the mandate for Abbey National's next Marylebone Road CBO III at over Euro 1.5 billion, which is slated to launch in late summer.

According to sources, Abbey is likely to issue on a quarterly basis. The pending deal, which will be a hybrid of an arbitrage and a balance sheet CDO, will be the U.K. bank's third CDO this year. Abbey will put an undisclosed portion of its balance sheet assets in the pool.

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