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.
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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