Resimac secures A$250m with debut subprime RMBS

Australian non-bank lender Resimac priced an increased A$250m ($268.8m) residential mortgage-backed securitisation on Thursday, completing only the second deal backed by non-conforming assets since the financial crisis.

  • 14 Jul 2011

Resimac successfully increased its debut non-conforming deal by A$50m and fended off negative market sentiment to price in line with guidance — albeit a day later than planned.

The issuer sold a A$50m ‘A1’ note that had a weighted average life of 0.4 years for 100bp over the one ...

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2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

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4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%