Amsterdam, November 7, 2016
Dynamic Credit Woninghypotheken B.V. (Dynamic Credit Woninghypotheken) has successfully securitized a portfolio of Dutch residential mortgage loans. The issue involved an amount of EUR 275.5 million under the name DCDML 2016-1 B.V. (DCDML 2016-1). The net proceeds will be used to refinance part of its existing mortgage loan portfolio.
This is the inaugural securitization of the DCDML program of Dynamic Credit Woninghypotheken, which is in operation since June 2015. The mortgage loans are marketed and distributed under the Hypotrust brand and are serviced by Quion.
Dynamic Credit acts as Portfolio Manager, and provides ongoing services to both Dynamic Credit Woninghypotheken and DCDML 2016-1 thereby securing, along with Quion and Hypotrust, an ongoing Dutch presence. Dynamic Credit currently has over EUR 7 billion in mandates for Dutch residential mortgage loan investments.
Goldman Sachs International served as sole arranger and lead manager in the transaction.DCDML 2016-1 is amongst the first Dutch prime RMBS transactions in which the full capital structure was placed with investors. An amount of EUR 250.20 million in Class A Notes (AAA/Aaa rating) have been placed with a group of institutional investors and priced at par with a coupon of three-month Euribor plus 39 basis points.
Merijn Bosman, Portfolio Manager at Dynamic Credit, commented:“We are delighted to announce the closing of DCDML 2016-1. This innovative transaction is an important milestone for Dynamic Credit Woninghypotheken and provides the blueprint for this type of transactions for the European securitization market.”
Additional information concerning the transactionFurther information about Dynamic Credit Woninghypotheken’s securitisation progamme can be found at the website of the Dutch Securitisation Association (DSA). On Bloomberg, the transaction can be found under the following ticker: DCDML 2016-1.
For more information, contact:
Dynamic Credit Partners Europe B.V.
Daan Potjer (COO)
+31 20 794 6059
+31 6 5045 9845