26 Mar 2013

One of Australia’s largest aggregators has priced its first Residential Mortgage-Backed Securities (RMBS) transaction.

AFG priced the inaugural transaction, which includes both onshore and offshore investors, late last week.

Finalisation of the deal follows a successful two-week soft sounding process during which there was a high level of engagement from investors, the aggregator said.

“We are delighted with the outcome and see this as a key milestone for AFG,” said AFG Home Loans’ general manager, Paul O’Donnell. “We plan to be a regular issuer of RMBSs and we will be back in the market in the coming months.”

The $275 million pool of home loans was originated through the AFG network and is managed by the AFG Home Loans and AFG Securities teams.

The pool was made up of 943 loans with a weighted average LVR of 64.2 per cent.

Investment loans represented 23.7 per cent of the pool and the weighted average seasoning is 7.3 months.

The Adviser – by Staff Reporter.

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