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.
Johnson Controls International has appointed XPS Pensions as investment and actuarial adviser for two of its schemes, following a competitive tender process.
Merseyside Pension Fund has allocated an initial £400m of assets to a smart sustainability fund managed by State Street Global Advisors (SSGA).
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.