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 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

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Rank Lead Manager Amount $m No of issues Share %
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1 Citi 30,859.27 98 11.48%
2 JPMorgan 25,558.51 72 9.51%
3 Wells Fargo Securities 24,627.51 67 9.16%
4 Bank of America Merrill Lynch 23,023.30 73 8.56%
5 Barclays 16,546.45 55 6.16%