Early days for corporate bonds
Housing Fund of Finland (ARA) last month became the first borrower to issue a public European asset-backed deal since the devaluation of the rouble. It was something of a gamble, but bookrunners and the borrower were pleased.. “The pricing was quite aggressive, quite brave, and we were lucky to receive what we wanted,” says Harri Hiltunen, Housing Fund director.
The deal involved a Fmk2.052 billion ($410 million) securitization of social housing loans through an Irish-registered special-purpose vehicle, Fennica 3.
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