Belgian Lion NV RMBS III: 14 March 2025

On the Closing Date (and from time to time thereafter) Belgian Lion, acting through its compartment Belgian Lion RMBS III, purchased Belgian prime residential mortgage loans from ING Belgium NV/SA. The Issuer financed the initial purchase through the issuance of Class A and B Notes.

The seller, ING Belgium NV/SA, is a wholly owned subsidiary of ING Bank NV. ING Bank is a wholly owned subsidiary of ING Groep NV. ING Group is the holding company for a broad spectrum of companies. ING Belgium NV/SA is a financial institution focusing its core activities on Retail & Private Banking and Wholesale Banking. The bank caters to over 2.9 million clients in Belgium with a wide range of financial products via the distribution channel of their choice.

As at the Initial Portfolio date (31 December 2024) the pool consisted of 36,450 loans advanced to 23,626 borrowers, where the Average Principal Balance per borrower is Eur189,530 and per loan is Eur122,849. Product type: annuity – 93.35%, interest only – 5.56%, Fixed Capital Repayment – 1.08%. The current WA LTV is 50.03% (original LTV was 65.87%) and the WA seasoning is 4.36 years. Regional distribution: Flanders – 58.23%, Wallonia – 26.35% and Brussels – 15.43%.

EU Risk Retention: The Seller (in its capacity as originator) has undertaken to retain, on an ongoing basis, a material net economic interest of not less than 5% in the transaction in accordance with Article 6(1) of the Securitisation Regulation. As at the Closing Date, such material net economic interest will be held by the Seller by the retention of 5% of the nominal value of each Class of Notes sold or transferred to investors.

The Notes are not intended to be designated as a STS securitisation for the purposes of the Securitisation Regulation.

Compare/contrast: B-Arena (Compartment 5), CASPR-1