Leading international law firm Clifford Chance has advised Obvion on their €500 million Green STORM 2023 Residential Mortgage-Backed Security (RMBS) issuance whereby the proceeds of the bonds are and will be applied to (re)finance a mortgage pool relating to energy-efficient houses.
Obvion is an established originator and servicer of residential mortgage loans in the Netherlands. This Green STORM 2023 issuance is the 7th green RMBS and the 48th RMBS under its STORM programme. In line with its predecessors, the transaction is structured to meet the simple, transparent and standardised (STS) requirements and eligible for preferential capital treatment under the Capital Requirements Regulation (CRR) and Liquidity Coverage Requirements (LCR).
The Clifford Chance cross-border team was led from Amsterdam by Marijke van der Weide and Nienke van Stekelenburgh, and consisted of Lisa Ye, Menno Postma, Marte Schaaf (Finance), Michiel Sunderman, Nolan Groenland, Robin Houtveen (Tax), Mark-Jan Arends, Laura Stegeman, Lauresse Anemaet (Notary), Erwin Schreuders, Marina Sarkisjan (Regulatory), Andrei Mikes and Orsolya Gondos (Tech//Digital) in Amsterdam, Cliff Cone, Gareth Old, Rebecca Hoskins, Tanner Schenewark (Capital Markets), Avrohom Gelber and Callum Burnett (Tax) in New York, Paget Dare Bryan, Rachel Robertson (Derivatives), John Connolly and Kelly Frevele (Finance) in London.