NautaDutilh assists Achmea Bank on its first swapless securitisation transaction (DRMP I)
On the 29th of May 2015, Achmea Bank completed its fifteenth securitisation transaction, called DRMP I. NautaDutilh acted as transaction counsel and advisor to Achmea Bank.
Pursuant to the transaction, Dutch Residential Mortgage Portfolio I B.V. issued several tranches of notes, which are backed by nearly one billion prime Dutch residential mortgage receivables. Due to efficient interest rate hedging techniques, replacing the traditional interest rate swap for an interest rate cap, the transaction is considered highly innovative.
The transaction was well-received in the capital market and received broad interest from the institutional investors across Europe. The notes are rated AAA by the rating agencies Moody's and Fitch and were placed by a syndicate of banks comprising ABN AMRO Bank, The Royal Bank of Scotland and HSBC Bank.
Achmea Bank is advised by, inter alia, Arjan Scheltema, Marijke Kuilman and Rogier Jacobsz.
