NautaDutilh assists Natixis with an innovative securitisation transaction of a non-conforming mortgage portfolio
NautaDutilh's Amsterdam and Luxembourg offices have assisted Natixis with the restructuring of a euro 178.6 million RMBS transaction of Principal Residential Investment Mortgages 1 S.A.(PRIM 1).
The senior notes have been placed with external investors and are rated AAA by S&P and Fitch. The transaction is backed by a Dutch portfolio non-conforming residential mortgage receivables originated by Sparck and KU88 (previously named Quion 88). Sparck and KU88 were non-conforming mortgage lenders in the Netherlands and ceased originating end 2008.
Natixis was assisted by a NautaDutilh team led by Arjan Scheltema and Liza Gerritsen, which were assisted by Josée Weydert, Arianne Mehrshahi, Nico Blom, Helene Piet and Andreas Oomen.