Successful securitisation by Argenta Spaarbank - Green Apple 2021-I

3 June 2021

For the continuous financing of its mortgage activities, Argenta raised EUR 650 million yesterday through the issuance of a new securitisation transaction, Green Apple 2021-I.

It is the fourth securitisation after issues in 2017, 2018 and 2019.

Collateral consists of high quality home loans granted by Argenta to Dutch customers. Due to this high quality and the structure of the transaction, the A tranche received an Aaa/AAA rating from Moody's and DBRS, the highest possible rating.

There was great interest from European institutional investors. Based on a well-diversified order book of EUR 1,588.1 million, the initial EUR 500 million issue was increased to EUR 650 million, which was placed with 27 investors.

The quality of the transaction, Argenta's robustness and favourable market conditions meant that new benchmark pricing could be achieved in this issuance. The discount margin of 13 basis points is the lowest spread on a Dutch RMBS since the global financial crisis of 2008.

For the full press release, we refer to the file below: