ABN Amro Plans €500M Dutch RMBS

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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.




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