Last week, SNS REAAL successfully placed securitisations
with a volume of € 883.2 million as part of its Hermes
XVIII securitisation programme.
One (class A3) tranche, valued at € 211.2 million and
having an expected life of approximately five years, had
already been placed with several institutional investors.
Two other tranches of € 192 million (Class A1; life
approximately 2 years) and € 480 million (Class A2; life
approximately five years) were oversubscribed 2.3 and 1.5
times respectively.
Proceeds from the transactions will be used to fund SNS
Retail Bank activities. This is SNS REAAL's second
successful placement of bonds shortly after the
1 billion euro Covered Bond transaction a few weeks
ago.
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