Obvion aims to sell Eu1.2bn Strong
Fresh from the private placement of Storm 2011-1 and 2011-2 last week, Obvion is aiming to sell Strong 2011-I, a Eu1.2bn Dutch prime RMBS with a 100% NHG-guarantee. Rabobank and Société Générale are lead managers.
There is only one senior tranche, with a weighted average life of 5.6 years.
A European ABS fund manager said that Obvion was a great originator, but that its funds were not looking at it because it was a semi-private issue.
Obvion privately placed the 5.2 year average life
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