CBA heads for size increase as RMBS orders top A$3bn

By Tom Porter
28 Aug 2014

Commonwealth Bank of Australia may print more than the A$1bn original size indicated for its Medallion Trust Series 2014-2 RMBS transaction after having the deal covered three times over by Thursday morning in London. The price guidance is 10p inside the level of the bank’s last deal, as RMBS funding continues to cheapen for Australian banks.

A mix of indications of interest and firm orders had moved beyond A$3bn ($2.8bn) by that time, with a bias towards domestic demand, and a number of domestic and foreign accounts were still to revert, according to the leads.

Price guidance remained at one month ...

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