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Securitisation Award 2015

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Every year at the Securitisation Event, the winner of the Securitisation Award is announced. The award “recognises outstanding achievement or a transaction, initiative or organisation that had a significant positive contribution to or impact on the (Dutch) securitisation market in 2015/2016.

The nominees will be selected by an independent advisory board. All nominees will have a chance to illustrate their initiative during the 12th IIR Securitisation Event. Participants will determine this year’s winner by popular vote.

The nominees for the Securitisation Award 2015 were as follows:

Arena 2014-I & II transactions: Delta Lloyd

Arena 2014-I represents an innovative RMBS transaction by Delta Lloyd. This transaction does not feature the traditional Dutch balance guaranteed swap, but instead accomplishes a hedge between its assets and liabilities using a cap and innovative features in the notes coupon. Arena 2014-I is the first post-crisis RMBS transaction without a balance guaranteed swap that was placed with investors in full.

CFHL-1 2014: Credit Foncier

CFHL-1 2014 is the first post-crisis RMBS transaction out of France that was publicly placed with third-party investors. Besides opening up the ABS market from a jurisdiction that was dormant for a long time, the CFHL structure involves several structural innovations. These include a re-pricing mechanism after 5 years that will operate in the capital markets without direct involvement from the originator. The transaction achieved full deconsolidation from the originator’s balance sheet. It also paved the way for other issuers across Europe in using securitisation as a balance sheet management tool.

STORM 2014-III: Obvion

With 35 RMBS transactions totaling over € 40 billion in the last 12 years, Obvion maintained its position as one of Europe’s prime and frequent issuers in 2014. The STORM program is highly appreciated by investors because of its consistency in terms of structure & portfolio quality and performance. 3 new securitisation transactions in 2014, totaling over € 3 billion, demonstrated excellent performance in terms of volumes and spread levels. STORM 2014-III in particular was impressively oversubscribed and delivered a record low post-crisis print. This transaction was considered to be the one transaction that underlined the Dutch RMBS renaissance.

And the winner is…

The winner of the Securitisation Award 2015 is Delta Lloyd Bank. Watch a short interview with Hendrik Jan Luikinga of Delta Lloyd Bank at the Securitisation Event in Amsterdam on 23 & 24 April 2015.

Submit your contribution

Does your organisation fit the above criteria for the prestigious Securitisation Award 2016? Please submit your contribution before 28 February by sending an email to c.kloeze@iir.nl with the arguments for your nomination to the jury.

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