IN BRIEF

摘要

The government guaranteed Class A(G) of Spanish SME loan securitisation cc ftpyme sabadell 4 will pay no interest for the period running from June 22 to September 21 due to Euribor being negative. The tranche was issued in 2005 with a coupon of three-month Euribor flat, however, with that benchmark at a rate of minus 1.4bp, fund manager GestiCaixa has determined to set the rate at zero due to the operational difficulties of a negative rate.