IMB keeps RMBS rolling with Illawarra issue

Building society IMB priced a A$300m ($271m) residential mortgage-backed securitisation on Friday, launching the senior triple-A tranche in line with guidance at 135bp over swaps.

  • 31 Mar 2010
The deal, Illawarra Series 2010-1 RMBS, is split into three floating rate, pass-through tranches, a $280.5m triple-A rated class ‘A’, a $11m triple-A rated class ‘AB’ and a $8.5m class ‘B’, rated AA-. Class ‘AB’ was priced at 175bp over the bank bill swap rate while class ‘B’ ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 4,486 16 13.62
2 Citi 4,347 16 13.20
3 Lloyds Bank 3,158 6 9.59
4 Morgan Stanley 3,066 8 9.31
5 Bank of America Merrill Lynch (BAML) 2,771 10 8.42

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4 Bank of America Merrill Lynch 41,657.82 137 7.42%
5 Credit Suisse 38,415.30 121 6.84%