NIBC Bank has announced the launch of the Dutch MBS XVII new residential mortgage-backed securitisation issued under its Dutch MBS programme. The deal has a total size of EUR 526.5 mln and is collateralised by a portfolio of high-quality Dutch residential mortgages.
NIBC Bank has announced the launch of the Dutch MBS XVII new residential mortgage-backed securitisation issued under its Dutch MBS programme. The deal has a total size of EUR 526.5 mln and is collateralised by a portfolio of high-quality Dutch residential mortgages.
Tranche A1, with a size of EUR 135 mln and a weighted average life of two years, was priced at three-month Euribor plus 75 bps. Tranche A2, with a size of EUR 365 mln and an expected five-year maturity, was priced at three-month Euribor plus 135 bps. Both tranches will have a AAA rating from Moody’s and Fitch.
The bonds were placed with a group of international investors. The joint-lead managers of the transaction were Credit Suisse, Jeffries Intl. Ltd and NIBC Bank.
