MARKET TALK: Tesco Bond Shows Sterling Fixed Rate ABS Demand

6th Jul 2010 10:26

0926 GMT [Dow Jones] Tesco's (TSCO.LN) GBP958.45M 2040 mortgage bond from its Property Finance program, which priced last week at 165 bps over gilts, "highlights the relatively higher appetite for public placement among sterling fixed-rate investors as compared to the traditional ABS investor base," says Barclays Capital. The bank expected to see up to five new sterling, fixed rate CMBS deals this year and this "is starting to seem like a high number," but to see one deal is encouraging. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 06, 2010 05:26 ET (09:26 GMT)