ABN Amro Plans €500M Dutch RMBS
ABN Amro announced a 5-year, €500 million ($367 million) prime Dutch RMBS from its Dolphin Master Issuer program.
The deal dubbed Dolphin Master Issuer B.V. (Series 2013-2) will put investor placed, Dutch RMBS issuance at €13.6 billion, according to Standard & Poor’s.
S&P, Moody’s Investors Service and DBRS assigned a preliminary ‘AAA’ rating to the deal.
Dolphin Master Issuer has previously made 14 issuances but this is the first publicly placed deal since 2011.
The collateral indirectly backing series 2013-2 comprises loans that ABN AMRO Bank and its affiliates originated, which are secured on first- and sequentially lower-ranking mortgages over Dutch residential properties, according to the presale report.