Aussie investors flock to Bankwest’s RMBS bullet
Bankwest priced a bigger-than-expected A$1bn ($990m) residential mortgage-backed securitisation on Friday, showing the strong demand for fixed rate bullet structures despite having to compete with a more conventional deal from Resimac, which priced its own issue on the same day.
Bankwests issue was divided into six tranches, and all but one were typical amortising tranches that pay a floating rate. But one tranche was priced to yield a fixed rate of 7% and uses a bullet repayment schedule, offering investors two features that have not been combined in
To discuss GlobalCapital access for your entire department or company please call Mark Goodes on +44 (0)20 7779 8605 or email firstname.lastname@example.org to discuss your requirements.