Delta Lloyd’s Arena 2009-1 RMBS transaction saw good interest from a variety of European investors.
The €189 million ($278 million) two-year A-1 class, which priced at the tight end of guidance at 110 basis points over one-month Libor, and was approximately 5.5 times covered in three hours. According to market reports, 45 orders received allocations in this tranche.
The U.K. and Netherlands took down around a quarter each. Spain came in at 16% while Switzerland and Italy were at 4% each.
Asset managers took down just over a half, banks 37%, insurers 7%, and pension funds 4%.
The €643.5 million 4.9-year A2 class priced at the tight end of guidance at 140 basis points over one-month Liborr and was approximately 2.25 times covered. Thirty-five orders received allocations.