ING increases IDOL Aussie RMBS

By Joseph McDevitt
27 Aug 2013

ING Bank Australia priced the second prime Aussie residential mortgage securitization from its IDOL programme on Monday. IDOL Trust Series 2013-2, brought to market by lead managers ANZ Bank, ING Singapore, Macquarie and National Australia Bank, was doubled in size ahead of pricing from its initial A$500m ticket to A$1bn.

The 2.9 year A$460m class ‘A1’ tranche, rated triple-A by Standard & Poor’s and Moody’s Investors Service, was increased to A$920m, pricing in line with last week’s guidance at one month BBSW plus 100bp. Beneath the ‘A1’ tranche, there are two tranches, 'A2s' and 'A3s', which are as ...

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