Dutch mortgage originator Obvion issued price talk on it €744.3 million ($1.3 billion) Dutch RMBS dubbed STORM 2011-IV B.V.
Moody's Investors Service has assigned provisional credit ratings to the transaction. The €150 million, Class A-1 Notes have been assigned an 'Aaa (sf)' rating; the €550 million, A-2 notes a 'Aa1' rating; the €13.3 million, Class B notes a 'Aa1' rating; the €11.1 million, Class C notes a 'Aa3' rating; the €12.5 million, Class D notes a 'A1' rating and the €7.4 million, Class E notes a 'Baa3' rating.
The A1 notes are being talked at 120 basis points more than euro interbank offered rate and the A2 notes are being talked at a spread of 150 basis points to 155 basis points, according to a Bloomberg report.
The securitization is backed by Dutch prime mortgage loans on residential properties located in the Netherlands and originated by Obvion. The portfolio will be serviced by Obvion, which is a subsidary of Rabobank.