The Commission is in the process of updating some of the content on this website in light of the withdrawal of the United Kingdom from the European Union. If the site contains content that does not yet reflect the withdrawal of the United Kingdom, it is unintentional and will be addressed.

Obvion Green Storm : Pioneering RMBS Green Mortgage project NL

Le Cas Présenté Highlighted Case
Share this Post:

Obvion NV is a residential mortgage provider in the Dutch market and a wholly owned subsidiary of Rabobank.

In 2016, Obvion issued Europe's first 100% green RMBS (Residential Mortgage Backed Security); meaning the assets backing the bond are green residential mortgages, ie. linked to energy efficient homes, and that the proceeds of the bond issuance will finance those green residential mortgages.


Part of Green Storm 2016, the pool contains a mix of energy efficient homes, as well as houses that have been refurbished to improve energy performance.


The Green STORM 2017 B.V. securitisation was for the purposes of refinancing a portfolio of energy efficient residential mortgages.

Following on from their two highly successful and popular Certified RMBS's in 2016 and 2017, Obvion issued another in 2018.


More information here



Lessons learnt

From Obvion Press Release 19th June 2018 Max Bronzwaer, Executive Director and Treasurer at Obvion: "I am extremely proud of realizing this successful green bond transaction. After the success of Green STORM 2016, this was the second time that RMBS investors had the possibility of buying green RMBS bonds for their sustainable bond portfolio. The order book of Green STORM 2017 was around EUR 1,4 bn. Therefore we were able to allocate solely to green investors. Green investors value the unique character of this transaction and the selection of green assets. About 25 green investors participated in this transaction. Some investors were new and didn’t participate in Green STORM 2016. That is a positive development and in line with the goal that we aimed for in 2016: developing a new market for green RMBS.”

Award labels

Additional documents

Available link languages

Operational date

Mercredi, 1 juin, 2016

May 2017
May 2018

Source of funding

Funding description

Green bond in the mortgage-backed sector

Economic effect

The aim is to target buyers across the spectrum, including traditional RMBS investors, dedicated Green buyers and those who already invest across both sectors.