The May Day holiday across Europe slowed activity, but the market was far from a standstill. A number of deals priced earlier last week, and activity was expected to pick up again on Friday.

According to market sources, the $1 billion equivalent RMBS issue for Delta Lloyd Levensverzekeringen was expected to price last Thursday but was held until the markets reopened Friday after the May Day holiday. The transaction was issued via the Arena special purpose vehicle and is backed by Dutch mortgages. ABN AMRO is managing the deal.

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