Deutsche Bank’s Trust and Agency Services (TAS) team has been appointed on Wendelstein 2024-1 UG (haftungsbeschränkt), a German RMBS transaction originated by BHW Bausparkasse AG (‘BHW‘), a wholly owned subsidiary of Deutsche Bank AG.

Wendelstein 2024-1 UG has issued two fixed rate notes, €9.275bn Class A and €725m Class B notes, both due in 2064. The notes will be retained by Deutsche Bank AG and are backed by more than 60,000 residential mortgage loans granted by BHW in Germany. The portfolio consists largely of owner-occupied mortgages, with the remaining being partially owner-occupied or buy-to-let loans.

Jason Connery, Head of Trust and Agency Services EMEA and Regional Head of Corporate Bank UK & Ireland at Deutsche Bank said, “TAS is delighted to support Wendelstein’s third RMBS issuance across account bank and agency services. Our ability to support this important transaction for the bank highlights the depth of solutions within the Corporate Bank which benefit both external and, in this case, internal clients.”