Euro Securitisation: Permanent Master Issuer 2009-1
Issuer: Permanent Master Issuer 2009-1 (Lloyds Banking Group)
Size: €4 billion equivalent
Issue date: Sept 23, 2009
Expected maturity: Oct 2014
Legal maturity: Jul 2042
Ratings: AAA (Fitch, Moody’s, S&P)
Pricing: A1 €1.65 billion (retained), A2 €1.65 billion 3M Libor + 180bp, A3 €750 million 3M Euribor + 170bp
Bookrunners: Barclays Capital, JP Morgan, Lloyds Banking Group
Unfairly damned by association with the collapse of the subprime mortgage-backed sector, the European securitisation market was one
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