Investors have flocked to National Australia Bank’s first residential mortgage-backed securitisation in more than four years, helping the issuer increase its deal from A$750m to A$1bn ($1.06bn) — and demonstrating the strong demand for fixed rate, soft bullet tranches.
NAB pitched banks with two A tranches one fixed, one floating last week. The floating rate tranche had a three year weighted average life, and the soft bullet fixed rate tranche had a scheduled maturity after three years. That allowed bankers directly to compare demand for
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