Investec shaves 30bp off last deal with latest medical ABS
Investec Bank’s Australian operation priced a A$214.8m ($228.6m) asset-backed securitisation on Wednesday, closing a deal backed largely by loans to medical and accounting industry professionals. It followed a similar issue from Investec last year — but this time the lender managed to price the top tranche 30bp tighter.
The South African banks local subsidiary priced the A$196.1m A tranche at 135bp over the one-month bank-bill swap rate, in line with guidance and 30bp inside the top tranche of a A$240.7m deal it sold in May 2010.
"Were pretty happy with the pricing," said Barry Lanesman, head
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