Rabobank and Société Générale, lead managers on Obvion’s Storm 2012-1 Dutch RMBS, are looking at levels for the ‘A1’ notes 5bp-10bp inside the initial 120bp guidance, released on Tuesday.
Class A1 is a 150m two year tranche.
Guidance on the 550m five year A2 notes remains unchanged
A1 notes on the last Storm deal came at 120bp, although
the programme went as tight as 90bp early in 2011.
Dutch issuers often print A1 notes flat or inside
secondary levels, since