Achmea sets RMBS guidance for DMPL IX

Leads Deutsche Bank and Natixis have issued guidance on Achmea’s new Dutch RMBS, DMPL IX, with the two year ‘A1’ class at 95bp-100bp and the five year ‘A2’ class at 140bp. This is outside the levels BNP Paribas’s Phedina 2011-1 achieved last week – that deal was priced at 90bp and 130bp for tranches of similar average life. However, a large lead order helped to anchor that price and the BNPP deal had around 40% NHG-guaranteed mortgages in the pool.