Flow of Australian RMBS, consumer ABS quickens

By Joseph McDevitt
29 Aug 2013

While the European primary ABS market has yet to show post-summer signs of life, Australian issuers have continued to sell a steady stream of securitizations. AMP Bank has mandated for its first Progress RMBS of the year, just after ING Bank Australia increased the final size of its IDOL RMBS, and the consumer ABS space has also seen deals.

AMP on Thursday launched its first Australian RMBS of the year, the A$500m Progress 2013-1 Trust. It is the fifth Australian RMBS to hit the market in the past month.

The deal, which was arranged by Deutsche Bank, will offer notes from four tranches, all in Australian dollars. ...

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