Sector developments and company hires

Follow-up funding for Raiffeisen-Leasing
The EIB Group has provided €200m funding to Raiffeisen-Leasing Austria via a true sale securitisation dubbed ROOF AT. The transaction’s €462.8m triple-A rated class A notes were preplaced with EIB (which subscribed to €150m) and EIF (€50m), as well as other market funding partners. Raiffeisen-Leasing Group subscribed to the €75m class B notes.

The €538m deal is backed by a three-year revolving portfolio of leases primarily granted to Austrian SMEs and private individuals, secured by new and used vehicle. The leases were originated by four companies in the Raiffeisen-Leasing Group.

The transaction was structured, arranged and placed by Raiffeisen Bank International and follows the ROOF Leasing Austria securitisation closed in 2016 (SCI 25 October 2016). The operation is expected to have a considerable impact on the real economy affected by the Covid-19 crisis by supporting approximately 25,000 jobs. It will also further Raiffeisen-Leasing’s climate action efforts, with a strong focus on leasing for e-mobility and green assets, thereby making new and more sustainable technologies available to a broader public.

In other news…

Dutch professional BTL lender launches
SolidBriQ has secured long-term funding from a consortium of insurance companies for the launch of its residential buy-to-let lending proposition for professional landlords in the Netherlands. The platform aims to provide a highly competitive financing proposition for landlords, while offering investors a combination of a conservative risk profile and attractive returns. The move capitalises on growing interest from institutional investors in investing in Dutch buy-to-let whole loans.

The founding partners at SolidBriQ are Jeroen Walhout (ceo), Frank Hermens (cfo), Calvin Davies (cio) and Gerard Schalk (chief risk officer). Walhout is the entrepreneurial founder of several key players in the Dutch mortgage market, including United Capital and UniTrust. Hermens has a background in leveraged finance, capital structuring, asset management and M&A with major institutions, such as ING Bank, KPMG Corporate Finance, Rabobank International and NN Investment Partners.

Davies worked for 19 years with major banks such as RBS, Rabobank and Halifax in the UK, before spending 14 years at the investment arm of ING/NN in The Hague. In the latter role, he led the teams that set up NN’s residential mortgage investment platform and assisted the ECB with the management of its ABS Purchase Programme.

Finally, Schalk has a background in consultancy, valuation, analytics and banking relating to commercial real estate, with prior positions at PwC, FGH Bank and Rabobank.

Walhout, Hermens and Davies are also partners in Orange Credit Hypotheken, a start-up platform that focuses on owner-occupied residential mortgage lending in the Netherlands.