Ahorro Corporacin Financiera, SVB, SA is adding flavor to the Spanish market with its second-ever repackaged mortgage-bond deal, to the tune of E2.5 billion.

Expected to close next week, the deal involves seventeen savings banks that will issue 17 cedulas hipotecarias, mortgage bonds, that are collateralized by a mortgage portfolio from each individual bank. The cedulas are then sold to the fund, AyT Cedulas Cajas II, Fondo de Titulizacin de Activos.

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