Aries notes to be excluded from JP Morgan's EMBI index

New York, June 28 - Aries Vermogensverwaltungs GmbH's planned new notes will be excluded from the EMBI family of indexes, J.P. Morgan Chase & Co. announced Monday.

"Many users of the EMBI indexes are not permitted to buy the Aries notes, based on our discussions with investors and, in particular, with the EMBI Advisory Committee," the investment bank said.

Since the goal of the EMBI indexes is to provide a market benchmark that can be replicated, the Aries notes will not be included in the indexes.

JP Morgan added that it will be providing analytics on the Aries notes and its clients will be able to create customized indexes including the notes.

Furthermore, the EMBI advisory committee will meet again in the fourth quarter to reassess whether credit-linked instruments should be eligible for inclusion.

Aries is marketing a $250 million and €250 million offering of notes linked to Germany's Paris Club agreements with the Russian Federation. The transaction will raise funds from receivables held by the Republic of Germany.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.