Underwriters formalized plans for the 1.0 billion ($1.28 billion) debut Belgian RMBS from Delta Lloyd Bank Belgium (DLBB). The lead managers are ABN Amro and Fortis Bank. Sources familiar with the deal said pricing is expected the week starting Oct. 2.
B-Arena NV/SA is the first issue of the securitization program by Delta Lloyd Bank. The transaction structure is based on the Arena Dutch RMBS transactions of Delta Lloyd N.V. with some changes made in order to adapt to the Belgian legal environment. DLBB is a financial institution based in Belgium, offering a broad range of banking products (e.g., checking and savings accounts, credit facilities and investment schemes) and insurance products via Delta Lloyd Life to its clients. DLBB was formed via a merger of Bankunie N.V., Bank van Limburg CVBA and Bank Nagelmackers 1747 N.V., and has been active in Belgium's banking market under its current name since 2001.