SEB is a forerunner with regard to securitization and has carried out several such transactions previously.
Securitization is becoming increasingly more common on the international market. The securitization process means that SEB Bolån AB sells part of its housing mortgage loans to the Osprey Company. In conjunction with this transaction, Osprey issues bonds with the loans as collateral.
"SEB utilizes its capital base more effectively and facilitates continued expansion in the growth sectors e-banking and savings while SEB continues to uphold its traditional banking transactions," says Zaid Pedersen, Deputy CFO, SEB
The bonds are being placed on the Euro market through SEB Debt Capital Markets and Goldman Sachs International. The bonds have been given the highest rating by the Fitch IBCA, Moody's and Standard & Poor's rating institutes.