To make history in the capital markets it can often help to have some history with the client. A prime example of this was seen in early March when Citigroup’s deal team, together with co-lead managers Morgan Stanley and UBS, successfully brought to market the latest HBOS retail mortgage-backed securities (RMBS) deal.
At Ł6.1bn equivalent, it was the largest deal of its kind ever seen and at the tightest spreads in the RMBS market’s history. Moreover, they did it in only five days.
