Obvion issued a €744.3 million ($1.3 billion) Dutch RMBS dubbed STORM 2011-IV B.V.
Moody’s Investors Service assigned provisional credit ratings to the transaction. The €150 million, Class A-1 Notes have been assigned an ‘Aaa (sf)’ rating; the €550 million, A-2 notes a ‘Aa1’ rating; the €13.3 million, Class B notes a ‘Aa1’ rating; the €11.1 million, Class C notes a ‘Aa3’ rating; the €12.5 million, Class D notes a ‘A1’ rating and the €7.4 million, Class E notes a ‘Baa3’ rating.
The securitization is backed by Dutch prime mortgage loans on residential properties located in the Netherlands and originated by Obvion N.V. The portfolio will be serviced by Obvion.
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Classes A1 through A3, which is composed of seven tranches, are expected to pay coupons of 6.39%.
