Morgan Stanley legacy Dutch RMBS deal priced

dutch houses 230x
By David Bell
18 Jan 2017

Morgan Stanley closed on Wednesday its Delft 2017 securitization of legacy Dutch nonconforming mortgages, originated by a former Lehman Brothers lender.

The deal was closed on Wednesday evening after sole arranger Morgan Stanley sold notes through to the bottom of the capital structure.

The €98.95m ‘A’ notes, with expected triple-A ratings from Standard & Poor’s, Moody’s and DBRS, were priced at a cash discount of 99.86 and a discount ...

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