Aegon’s mortgage subsidiary mandated five banks on Monday for a new Dutch RMBS, Saecure 16. It is an unusually large syndicate size, but one which reflects the vanilla nature of prime Dutch RMBS. Aegon is a rare issuer in the market, last doing a deal in 2014.
Rabobank is arranging the deal, and Bank of America Merrill Lynch, ING, Société Générale and Wells Fargo are joint leads. The deal is backed by a €989m pool of mortgages, with an average seasoning of 3.22 years.
On offer is a triple-A rated class ‘A’, with a set