Green Apple Dutch RMBS doesn't fall far from the tree

greenapple
By Tom Brown
05 Jun 2019

Argenta Spaarbank is issuing a new Dutch residential mortgage securitization via arranger ABN Amro. It has three tranches backed by Dutch owner-occupied mortgages and is structured in a similar fashion to the issuer’s previous deals.

Green Apple 2019-2, which has a notional amount of €690.6m, will offer a senior tranche with a coupon of 40bp over three month Euribor and two unrated tranches. DBRS and Fitch gave the class ‘A’ notes the provisional ratings of AAA.

The deal will also be compliant ...

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