Resimac secures A$250m with debut subprime RMBS

13 Jul 2011

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 ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial