Bluestone Plans A$700M Non-Conforming RMBS

  • 22 Feb 2007

Australian non-bank lender Bluestone Mortgages is planning an A$700 million ($556 million) non-conforming residential mortgage-backed securitization, according to Reuters. Westpac Institutional Bank is leading the transaction, which is called Sapphire X Series 2007-1 Trust. The notes are backed by non-conforming mortgages originated by Bluestone. Roadshows are in progress.

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