The 1.2 billion ($1.5 billion) Portuguese RMBS deal Lusitano Mortgages No. 3 proved to be the talk of the European market last week, as its record tight spreads pulled in the secondary even further.

The 5.7-year triple-As, totaling 1.14 billion, priced at three-month Euribor plus 13 basis points - which was one basis point inside the already tight 5.2-year triple-As in the Permanent 6 deal from the previous week.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.