Heritage gets rare support for subordinated RMBS tranches
Heritage Building Society priced an increased A$800m ($856.1m) residential mortgage-backed securitisation on Monday, returning to the market after a five year absence — and taking the ambitious decision to sell its entire subordinated tranche.
Heritage boosted the size of its deal from A$500m, selling a A$749.6m A note for 110bp over the one month bank-bill swap rate; a A$21.6m AB note for 195bp over BBSW; and a A$28.8m B tranche for which pricing was not disclosed.
"We did not want to retain
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.