New Issue-Countrywide prices $2 bln home-equity ABS

Newswire

NEW YORK, Aug 23 (Reuters) - Countrywide Mortgage priced a two-part $2 billion home equity-backed deal, a source close to the deal said on Tuesday. Class No.1A for $880 million has a 2.23 year average life and is rated triple-A. It was not publicly offered. Class No 2A. for $1.12 billion also has a 2.23 year average life and is rated triple-A. It priced at 22 basis points over one month libor. Countrywide Securities was the lead underwriter. The issue is credit enhanced by an MBIA ...

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