New Issue: IM SABADELL EMPRESAS 5 , Fondo de Titulizacion de Activos Jul 09
- ID: 1711552
- July 2009
- Standard & Poors
Standard & Poor's Ratings Services has assigned credit ratings to the floating-rate notes issued by IM SABADELL EMPRESAS 5, Fondo de Titulización de Activos. The originator is Banco de Sabadell S.A. (Banco Sabadell), which at closing sold to IM SABADELL EMPRESAS 5 a €900 million closed portfolio of secured and unsecured loans granted to Spanish small and midsize enterprise (SMEs). To fund this purchase, InterMoney Titulización S.G.F.T. S.A., as trustee, issued three classes of floating-rate, quarterly paying notes on IM SABADELL EMPRESAS 5's behalf. The ratings on the notes issued by IM SABADELL EMPRESAS 5 reflect the subordination of the notes, the reserve fund, the presence of the interest rate swap (which provides excess spread of 25 basis points (bps)),...
Companies mentioned in this report are:
- Banco de Sabadell S.A.
- GC FTPYME SABADELL 6, Fondo de Titulizacion de Activos
Action: New Rating
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Research Type: Full Analysis