Shinsei Bank raises ¥31bn RMBS in debut public market transaction

Shinsei Bank sold its first residential mortgage-backed securities (RMBS) in a rare public market deal yesterday (Thursday), raising ¥31bn ($339m) after abandoning its plans to issue covered bonds.

  • 11 Dec 2008
Big Sky 2008-1 is the first public RMBS deal from a Japanese bank since Daiwa Securities SMBC sold its own ¥27.5bn issue in March. Shinsei Securities acted as arranger, while Credit Suisse and Daiwa Securities SMBC were joint leads on the transaction, which was split between three different ...

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1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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3 JPMorgan 92,612.23 269 8.74%
4 Wells Fargo Securities 82,597.19 239 7.80%
5 Credit Suisse 69,442.99 183 6.55%