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12b-1 ABS prices in roiled market

Despite a turbulent equity market, Constellation Financial Management was able to price its $146 million 12b-1 fee ABS issue in late June via Bear Stearns. The deal was initially sized at $290 million, but due to market conditions was scaled down. The Aa2'/AA' (MDY/FTC) rated 2.75-year average-life deal cleared...

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