Best covered bond issuer: Ahorro y Titulización

The sophisticated pooling of cédulas hipotecarias satisfies the demands of issuers and investors alike.

The world’s best borrowers in 2006

Lola Manterola, AyT Cédulas Cajas “Our strategy is to be as market-friendly as possible, to access the market at the right time and to not be opportunistic”
Lola Manterola

If the largest issuer in the largest issuing market issues the largest-ever covered bond, it becomes a serious contender for this year’s borrower awards. AyT Cédulas Cajas launched its record-breaking benchmark €5.4 billion covered bond last December, the largest ever issued. The transaction broke another record with a €2 billion seven-year FRN tranche, the largest-ever floating-rate covered bond, which accompanied a 17-year and a 10-year fixed rate tranche.

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