NN Bank privately places €500m RMBS
An improvement in market conditions since Nationale-Nederlanden Bank (NN Bank) was last in the RMBS market didn’t help initial spreads on its privately placed €500m deal come any tighter. As the regulatory treatment of ABS has failed to make progress, the issuer could be tempted to follow its Dutch peers and set up a conditional pass through (CPT) covered bond programme.
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