F. van Lanschot Bankiers N.V. successfully completed the sale of 750 million of securitised Dutch mortgage loans to the market on 29 November 2010. This RMBS (Residential Mortgage-Backed Securities) transaction comprised a 250 million tranche (A1 notes) and a 500 million tranche (A2 notes) under the Citadel 2010-I programme. The notes - which were oversubscribed - were placed with a wide group of institutional investors.
With this transaction, which forms part of the bank's general funding activities, Van Lanschot has attracted new external funding with a two-year term (A1 notes) and a five-year term (A2 notes). The transaction improves the diversification of the bank's funding, thereby also further strengthening the bank's solidity. Van Lanschot's funding ratio - the extent to which the loan book is funded by customer deposits - remains strong at over 81% at 30 September 2010.
The notes have AAA ratings from Standard & Poor's and Fitch. The transaction was led by a syndicate of BNP Paribas, ING and Rabobank International.
's-Hertogenbosch, 1 December 2010
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Van Lanschot NV is the holding company of F. van Lanschot Bankiers NV, the oldest independent bank in the Netherlands with a history dating back to 1737. Van Lanschot focuses on three target groups: high net-worth individuals, medium-sized businesses (including family businesses) and institutional investors. Van Lanschot stands for high-quality services founded on integrated advice, personal service and customised solutions. Van Lanschot NV is listed on Euronext Amsterdam.