CIFD, first private STS issuer, mandates BNPP and Credit Agricole for debut public RMBS
Crédit Immobilier de France Developpement has mandated BNP Paribas and Crédit Agricole for its public market securitization debut. The issuer was the first to qualify for the ‘simple, transparent and standardised’ (STS) standard with a private placement earlier this year.
The new deal, called Harmony French Home Loans FCT 2019-1, is backed by performing French residential home loans, 90% first rank mortgage loans and 10% guaranteed home loans. The portfolio is well seasoned at 11 years with a loan-to-value ratio of 65.43%.
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