Last week marked the return of several U.S. issuers to the European market. Sallie Mae priced a student loan deal, series 2004-10, via Credit Suisse First Boston, which included Euro and Sterling denominated notes mixed in with its U.S. Dollar tranches. RBS Greenwich Capital acted as co-manager on the transaction.
"The interest among European investors for student loan product, and ABS in general, has increased in the last couple years," said Peter DiMartino, managing director and head of ABS strategy at RBS Greenwich Capital, Royal Bank of Scotland's stateside unit. "A rather large pocket of opportunity exists for U.S. issuers to diversify their investor base."