MEB heads for size increase on strong IOIs

MEB 230x
By Tom Porter
21 Jul 2014

Australia’s Members Equity Bank is likely to increase the size of its first RMBS transaction of 2014 this week, and has asked offshore buyers to finalise their orders by the close of play on Tuesday so pricing can be brought forward to Wednesday.

SMHL 2014-1 represents MEB’s latest annual entry into the RMBS market for five years, as the issuer leans away from a previous heavy reliance on securitization.

It comprises a A$460m 2.7 year senior tranche with 8% credit enhancement, on top of a A$31m 5.1 year Class AB ...

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