Deal or Case news
03.02.2025
The NautaDutilh Structured Finance team assisted a.s.r. Levensverzekering N.V. on its Delphinus 2025-I securitisation transaction, in which a total of EUR 500,000,000 AAA-rated Class A Notes were issued.

This is the third transaction originated by a.s.r. Levensverzekering N.V. since it resumed RMBS issuance in 2023 with Delphinus 2023-I and Orcinus 2023-I, for both of which NautaDutilh also acted as lead counsel.

The Delphinus 2025-I transaction was placed in the market with external investors. With this first Dutch RMBS issuance of 2025, a.s.r. opened the market and the appetite to invest in the notes was quite high. The transaction is a true-sale securitisation of mortgage loans originated in the Netherlands, whereby a.s.r. has sold and assigned receivables resulting from Dutch residential mortgage loans to the issuer of the notes.

We are pleased to contribute to Delphinus 2025-I and to assist a.s.r. with its successful transaction, which was very well received by the market
Michaëla Ulrici, Structured Finance partner

Our team advising a.s.r. on the securitisation transactions further consisted of Reinier Dommerholt, Carlijn Storm, Nico Blom and Riemer Meinderts.

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