ASIA-PACIFIC

摘要

Macquarie bank raised A$lbn (US$938m) through a securitisation of residential mortgages last Thursday that was priced at the tightest margin for any non-major bank's RMBS since the global financial crisis. The offering, which had been increased from an indicative issue size of A$500m, was issued through puma series 2014-2. The A$920m of Class A notes, which are rated AAA/AAA (Standard & Poor's/Fitch), have a weighted average life of 2.7 years and 8% credit enhancement. The notes were priced to yield 79bp over one-month BBSW, inside the low 80s price guidance. The result is 11bp inside the 90bp spread for Macquarie's previous and identically structured RMBS on February 6 through Puma Series 2014-1.