Dutch Lender Places Private RMBS Deal

Achmea Hypotheekbank, a Dutch mortgage lender, has privately placed Dutch Mortgage Portfolio Loans VI, a €783 million ($993 million) residential mortgage securitization.

  • 20 Aug 2010
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-- Daniel O’Leary

Achmea Hypotheekbank, a Dutch mortgage lender, has privately placed Dutch Mortgage Portfolio Loans VI, a €783 million ($993 million) residential mortgage securitization. JPMorgan, the Royal Bank of Scotland and Deutsche Bank acted as joint lead managers on the deal.

The notes have been placed with a small club of investors, according to a syndication official. He declined to elaborate on the identity of the investors. “If you know the European market, then it’s easy to work out who the main buyers are,” he said. JPMorgan, PIMCO and Bank of America have been the most active players in the private RMBS market, but their participation in this deal could not be confirmed.

Moody’s Investors Service gave the deal Aaa.

Achmea’s last deal was the DMPL VII, a €790 million ($1 billion) retained deal, which closed in November, 2009. DMPL VI is backed by 3,338 prime Dutch loans. The notes have a weighted average life of 4.2 years and the seniors are paying a coupon of 2.144%.

Officials at Achmea did not return phone calls.

  • 20 Aug 2010

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 119,693.92 344 12.91%
2 Bank of America Merrill Lynch 99,935.46 287 10.78%
3 Wells Fargo Securities 88,155.55 263 9.51%
4 JPMorgan 69,113.88 208 7.46%
5 Credit Suisse 51,260.05 154 5.53%