Resimac secures A$250m with debut subprime RMBS

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.

  • 14 Jul 2011

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 ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
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