Weil, Gotshal & Manges has closed the first Irish mortgage securitization deal of the year. The euro650 million ($320 million) issue of AAA and A2-rated notes by Phoenix Funding and backed by the Irish residential mortgages held by IIB Homeloans, is the first time that the IIB Bank subsidiary has tapped the securitization market in six years.
August 31, 2001