ABN Amro breaks ABS record with smile


ABN Amro brought its asset backed business for 2001 to an end on a high note with the biggest ever all-cash publicly offered euro-denominated ABS transaction – SMILE 2001. The issue of nine euro-denominated notes totalling e5 billion was backed by a portfolio of medium and long-term loans granted by ABN Amro to Dutch small and medium-sized enterprises (SME), which were transferred to special purpose vehicle SMILE 2001 in a true sale.

The asset class is still novel in Europe, but completely n

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