The European primary pipeline saw the re-marketing of Citadel  2010-1, a prime RMBS transaction.

The Class A2 of Citadel 2010-I, which is a Dutch RMBS from F. Van Lanschot Bankiers, is being talked at guidance of 150 basis points to 155 basis points, according to market reports. The 4.73-year tranche is worth €500 million. The coupon is set at 140 basis points over three-month Euribor and the notes will be sold at a discount.

The first U.K. auto deal since February 2008 is also in the pipeline. The £393 million securitization deal called Turbo Finance plc will be issued by Carlyle Group and Firstrand Bank.

The capital structure will offer investors a £289 million triple-A tranche and a £63.6 million single-A portion.  Lead managers on the deal, which is expected to close in December, are BNP Paribas  and  UBS.  

 

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