* Second deal in weeks
* To securitise total 800 million euros
* RBS is lead manager
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By Alex Chambers
LONDON, Dec 10 (Reuters) - Friesland Bank is planning to sell bonds backed by prime Dutch residential mortgages, the second such deal in weeks and further proof the long dead European securitisation market is back in business.
Friesland is using an issuance vehicle called Eleven Cities 4 and will securitise 800 million euros in total. But lead manager Royal Bank of Scotland is only offering one tranche, sized at 560 million, to investors.
Last week Delta Lloyd priced a 904.5 million euro deal which reopened the Dutch RMBS market for the first time since the credit crunch brought it to a complete standstill.
European banks have been largely reliant on the European Central Bank's repo facility to finance their mortgage loan books. (Reporting by Alex Chambers, editing by Will Waterman)