EFG Eurobank, as originator successfully placed today its fourth residential mortgage backed securities, issued by Themeleion IV, a public limited company in the United Kingdom.
The securities were rated by the rating agencies Standard & Poor's, Moody's & Fitch. Specifically, the Euro 1,352.9 million Class A Notes received the highest possible rating of AAA /Αaa / AAA from the rating agencies (with coupon three month Euribor + 13bps); the Euro 155.5 million Class B Notes were rated Aa3/A from Moody's & Fitch respectively (with coupon three month Euribor + 28bps); the Euro 46.6 million Class C Notes were rated Baa3/BBB from Moody's & Fitch respectively (with coupon three month Euribor + 58bps). The funds raised by the securitization will be used to cover part of the Bank's funding programme.
The transaction was arranged by ABN AMRO, Barclays Capital, Morgan Stanley and EFG Telesis Finance, Co Lead manager was DZ Bank.
Roadshow meetings and presentations were held with institutional investors in Paris, London and Dublin. The offer of the Class A notes to investors received great interest, as confirmed by the oversubscription at 2.8 times the issue size.
For Eurobank EFG this is the sixth securitisation transaction, following the three residential mortgage-backed securitisation transactions for a total issue size of Euro 2,500 million, a credit card securitisation of Euro 750 million and a small business loan securitization of Euro 2,250 million.