National Australia Bank was rounding up investors for $750 million residential mortgage backed securities (RMBS) deal on Monday morning.
National Australia Bank was rounding up investors for a $750 million residential mortgage backed securities deal on Monday morning.Terms sent to potential investors said NAB, also the arranger and the lead manager, had preplaced $870 million in the top-most tranches. These had a price guidance of 120 bps above one-month BBSW but still had room for placements.
The bottom-three tranches had guidance of 300 bps, 500 bps and 675 bps above the one-month BBSW and were all pre-placed. Guidance for the rest was in 190 bps to 265 bps area. The deal, National RMBS Trust 2022-1, was collateralised against Australian prime residential mortgage loans originated and services by NAB.
NAB was arranger and lead manager. Investors were told to expect pricing on either Wednesday or Thursday. The transaction was expected to settle on June 30. co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Is ‘fake data’ the real deal when training algorithms?The use of synthetic data is a cost‑effective way to teach AI about human responses. But can it help eliminate bias and make self‑driving cars safer?
Read more »
The Guardian view on Julian Assange’s extradition: a bad day for journalism | EditorialEditorial: Priti Patel could have turned down the American request. By not doing so she dealt a blow to press freedom
Read more »
$760m extra for hospitals while health system fixes are foundNational cabinet has agreed to extend a COVID-19-era hospital funding deal for three months while premiers find ways to better integrate parts of the health system.
Read more »
Spanish PM faces test as Andalucía votes in regional electionPeople’s party expected to repeat 2018 defeat of Socialists – but failure to gain absolute majority could lead to deal with far right
Read more »
M&A deals drop like flies, bankers brace for moreIt’s killing season in Australian M&A. A handful of agreed takeovers hang by a thread as boards rethink decisions they made in the boom times.
Read more »
M&A deals drop like flies, bankers brace for moreIt’s killing season in Australian M&A. A handful of agreed takeovers hang by a thread as boards rethink decisions they made in the boom times.
Read more »