Caja Madrid-originated fund to skip bond payment
* Fund to skip 1.2 mln euros bond payments
* Deferral due to rising defaults on mortgage-backed debt
* Tranches held by Caja Madrid, does not affect investors
* First deferral on Spanish residential real-estate debt
(Confirms previous El Mundo newspaper report, adds comments from spokesman, analysts)
MADRID, May 21 (Reuters) - A mortgage securitisation fund partly originated by Spain's second-largest savings bank Caja Madrid [CAJAM.UL] will miss some interest payments on bonds due to rising home-loan defaults, sources familiar with the matter said on Thursday.
The Madrid RMBS II and III bonds will skip 1.2 million euros
($1.65 million) in interest payments this week on three tranches of junior debt after defaults on underlying mortgages reached cut-off levels, the sources said. Continued...
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