BEAR STEARNS brought a new triple-A credit to the Euro-French franc market on Tuesday with a Ffr1.5bn six year deal for Asset-Backed Capital Ltd, a Cayman Islands registered investment company which became operational in May 1996 and now has over $5bn of assets on its balance sheet. The company is a bond arbitrage vehicle, which funds itself by issuing debt and buys in-
October 03, 1997