At press time last week the new issuance calendar for October had already reached E6.3 billion (US$7.39 billion) with a number of new deals building up in the pipeline. This should set Europe well on its way to reach predicted year-end issuance. Additionally, by mid-week, a further E3 billion (US$3.52 billion) of Spanish RMBS lined up for marketing.
Included among the new names is a E250 million (US$292.3 million) SME CLO for Banco Guipuzcoano, FTYMPE TDA-4. The capital structure will include four tranches including a triple-A rated piece backed by a Kingdom of Spain guarantee.