The first-ever Irish residential mortgage covered bond went on a marketing blitz in Europe and Asia last week. Analysts said it drew some attention from ABS investors, who seem to be getting more keen on covered bonds as an RMBS alternative.

The Bank of Ireland Mortgage Bank, a wholly owned subsidiary of the Bank of Ireland, expects its inaugural deal to total about 2 billion ($2.44 billion), with the final maturity between five and seven years.

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