Publications single_nl
NIBC Bank successfully places EUR 1 billion of RMBS notes
13-09-10
On 10 September 2010, NIBC Bank N.V. placed EUR 1 billion of RMBS notes in the institutional market. The notes are rated AAA/Aaa (S&P and Moody's) and are backed by high-quality Dutch residential mortgages. The transaction is privately placed and has a weighted average life (WAL) of 7 years. The notes are issued by Essence III B.V. and priced at par with a coupon that is equivalent to 3-month EURIBOR plus 151 basispoints. This transaction confirms the market confidence in Dutch residential mortgages and underpins NIBC's strong position in this market.