Expanding investor base has Aussie securitization on tightening trend

Australian dollars 230crop
By Tom Porter
05 Jun 2014

An expanding investor base has helped Australian RMBS issuers drive their spreads tighter in the primary market, in a week of heavy supply that has included the first euro-denominated auto ABS since before the financial crisis.

ING Bank Australia printed a tight mortgage-backed deal in its domestic currency, while Resimac found appetite for an RMBS trade with a US dollar component and Macquarie sold the first euro auto ABS tranche since 2008.

ING priced A$1.25bn of 2.8 year of ‘Class A’ notes at 83bp ...

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