Tulp mandates banks for second Dutch RMBS

Tulip_PAImages_575x375_26Oct20
By Tom Brown
26 Oct 2020

Tulp Hypotheken has mandated HSBC as arranger and BNP Paribas as joint-lead manager for Tulip Mortgage Funding 2020-1, the issuer’s second ever deal following its 2019 debut.

Three tranches are on offer, including a 3.53-year senior tranche with credit enhancement of 9.9%, the class ‘B’ notes with credit enhancement of 7.1% and the class ‘C’ given 5% enhancement, both with a weighted average life of 3.92 years. Class ‘Z1’, ‘Z2’ and ‘X’ tranches will be ...

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