Dutch mortgage lender Obvion N.V. is structuring its 34th securitization of residential mortgages through its Purple Storm 2016 B.V trust.

The net principal in the portfolio is €1.23 billion, which will mostly back a series of Class A notes that will make up approximately 94% of the capital stack. The Class A notes will have 7.5% credit enhancement, and have preliminary triple-A ratings from Moody’s Investors Service, Fitch Ratings and Standard & Poor’s.

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