Farm flows feed a new asset class

Issuer: RHG Nord
Size: e65 million
Arranger: Rabobank International
Issue date: September 17 2003

European securitization volumes continue to rocket upwards. According to figures compiled by the European Securitization Forum (ESF), new-issue activity totalled e95.1 billion in the first half of 2003, up 56.7% on the same period last year.

But it is established asset classes and traditionally active jurisdictions that are fuelling this growth. European mortgage-backed securities issuance increased by 110%, while non-mortgaged-backed asset-backed securities grew by just 9.7%.