ABN AMRO Bank N.V. Closes USD 5.5 billion collateralized loan obligation in USA
ABN AMRO Bank N.V. has announced the initial closing of Loop Funding, a USD 5.5 billion securitization program of its U.S. corporate loans. Loop Funding is the largest single collateralized loan obligation to date. Loop Funding includes only U.S. dollar-assets and encompasses a variety of asset classes. It is structured to be primarily off balance sheet from an accounting and regulatory standpoint in the U.S. and The Netherlands.
The Loop Funding securitization enables ABN AMRO Bank to re-deploy capital for more profitable investment. The securitization is also an effective way for ABN AMRO Bank to tap into a new investor base, thereby further diversifying its funding.
Netherlands-based ABN AMRO Bank is the world’s 15th largest bank, with assets of USD 398 billion and over 1,800 locations in 71 countries worldwide. ABN AMRO Bank has assets of USD 106 billion in North America through its U.S. offices and subsidiaries.
The securities issued by Loop Funding Master Trust have not been registered under the Securities Act of 1933, as amended, or any state securities or blue sky laws and may not be offered or sold in the United States or in any state thereof absent registration or an applicable exemption from the registration requirements of such laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any of such securities referred to herein in any state in which such offer, solicitation or sale would be unlawful.