ASIA-PACIFIC

摘要

The Australian office of financial management has announced revised details on the second auction of its holdings of RMBS to be held on Tuesday. The AOFM will now sell up to A$500m (US$375m) of the A$319.2m Apollo 2009-1 A3 notes, the A$195.65m Progress 2012-1A notes, the A$497.6m Reds 2010-2 A2 notes, the A$170m Resimac 2011-1 A notes and the A$250m SMHL 2010-1A notes. It will no longer offer to sell the Harvey 2010-1 A1 notes after receiving from the trustee an option-to-call notice on July 3. The AOEM raised just over A$160m from the first auction on June 24, with its remaining RMBS holdings now estimated to be around A$4.4bn in amortised face-value terms. The amount was well below the A$300m-A$500m the AOFM expected to raise, despite receiving bids of over A$1.3bn for the three tranches of notes on offer. The outcome suggests the AOFM was keen to create greater price tension for subsequent auctions rather than accept any level to offload its RMBS holdings, said one syndication manager.