Brand New Day Bank is a Dutch online bank serving retail customers with pension, annuity, savings and investment products. It invests in a diversified portfolio, including Dutch residential and buy-to-let mortgage loans acquired by purchasing receivables from third-party originators. The securitisation creates rated senior notes backed by residential mortgage receivables that may qualify as eligible collateral for Eurosystem monetary policy purposes.
Brand New Day Bank's first securitisation expands its balance sheet control toolbox and is expected to support the development of future (public) securitisation transactions. The team advising Brand New Day Bank on the transaction consisted of Arjan Scheltema, Liza Gerritsen, Marc Broere, Nico Blom and Riemer Meinderts.