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Barclays Bank last Friday launched its second public securitisation of its Spanish mortgages via Barclays Capital.
The Eu800m deal, AyT Genova III, FTH, is the bank's third securitisation of its Hipoteca Remunerada mortgages, which are originated through Barclays' 162 branch network and extended to high net worth individuals. Its first transaction was retained, while the second deal was publicly launched in June 2003 and came at 27bp over Euribor at the triple-A level.
"The tightening is down to investors' familiarity with the name and general market...