UK/NETHERLANDS/BELGIUM - The Royal Bank of Scotland Financial Markets is to market Fortis Investment Management's inaugural managed synthetic CDO.
In addition to a E870m super senior credit default swap, Reubens I CDO will offer four tranches of notes totalling E130m, with an average life of seven years and legal final of eight years.
The deal is expected to total E1bn and is referenced to investment-grade corporate credits.
The deal is expected to close this month.
There is currently no indication of likely price talk from RBS.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.