B-Arena (Compartment 5): 01 February 2023

A rare securitisation issuance from Belgium, with the underlaying assets being Belgium home loans originated by Bank Nagelmackers NV/SA.

From 1999 through July 2015, Bank Nagelmackers (under its former name, Delta Lloyd Bank NV) was an indirect subsidiary of the Delta Lloyd NV. In July 2015, Delta Lloyd NV was acquired by Anbang Belgium Holding NV (now part of Dajia Insurance Group) and its name was changed in October 2015 to Bank Nagelmackers. The Bank provides a comprehensive range of financial products and services: private banking, wealth management, investment products, deposits and loans.

As at 31 October 2022 the provisional pool consisted of 8,937 fixed rate loans, advanced to 6,513 borrowers. The average outstanding balance per borrower is Eur173,231. Occupancy Type: Owner occupied – 86.7%, Non owner occupied – 13.3%. Repayment Type: Annuity – 92.62%, Interest-only – 6.80%, Linear – 0.58%. Loan Purpose: Purchase – 54.0%, Remortgage – 29.5%, Construction – 11.1%, other – 5.4%. The WA CLTCV is 50.7% (the initial WA ILTIV was 80.9%) and the WA seasoning is 58.5 mnths. Geographic Distribution: Antwerpen – 28.4%, Vlaams-Brabant – 12.9% and Limburg – 12.2%.

EU Risk Retention: The seller (Bank Nagelmackers NV/SA) has undertaken to retain a material net economic interest of not less than 5% in the securitisation transaction in accordance with Article 6 of Regulation (EU) No 2017/2402 of the European Parliament and of the Council of 12 December 2017.

STS: compliant

Compare/contrast: B-Arena 4, Loan Invest NV (Compartment Home Loan 2019)