ABN Preps Brazil RMBS

ABN Preps Brazil RMBS

Structured Finance

Sudameris, ABN AMRO's Brazil retail branch, and local securitization shop Brazilian Securities, expect to issue a BRL100m RMBS Friday, marking the first time a retail bank has securitized its own portfolio of mortgages, according to executives familiar with the transaction. While pricing has yet to be announced, the trust (Brazilian Securities 69-70) will issue an BRL86m senior tranche of créditos recebíveis imobiliários (CRI) to investors and a junior BRL13m junior tranche of CRI that will be h

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