Permanent Master Issuer Trust‘s final placement was tighter than spread guidance and demand was higher than expected. The positive reception is likely to lead to other U.K. master trusts tapping the market in the near future, market analysts said.

The latest issue under the trust saw its class A1 note indexed to three-month Libor retained, the class A2 priced at 170 basis points, over the three-month Libor and class A3 notes priced at 170 basis points over the three-month Euribor. The class A2 notes were partially placed with JPMorgan and the class A3 notes were publically issued.

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