Non-bank lender Firstmac readies $1.76b RMBS deal

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Non-bank lender Firstmac had JPMorgan taking indications of interest for a $1.76 billion residential mortgage backed securities (RMBS) transaction on Thursday afternoon.

The deal was split into eight tranches. A big chunk of it was pre-placed, including the $1.5 billion senior-most tranche.

There was room in two tranches below it, which were expected to be rated AAA and had price guidance for 2 per cent and 2.3 per cent above the one-month Bank Bill Swap Rate.They expected to launch and price the deal in the third week of October, followed by settlment on October 13. is an award-winning senior journalist who writes on technology, healthcare and occasionally covers Street Talk from our Melbourne newsroom.

 

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