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 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

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1 Citi 94,444.52 266 11.16%
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3 Wells Fargo Securities 69,655.75 196 8.23%
4 JPMorgan 69,110.65 196 8.17%
5 Credit Suisse 56,930.26 144 6.73%