Expanding investor base has Aussie securitization on tightening trend

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 ...Already a subscriber? Login