Auswide completes RMBS issue
Auswide Bank has completed its issue of residential mortgage-backed securities, raising A$300 million of funding.The bank will pay a margin of 125 basis points over the one-month bank bill swap rate on the $270 million of A notes, which have a weighted average life of 3.3 years.Pricing on the $16.9 million of AB notes, which have a weighted average life of 5.9 years, is 200 bps over the swap rate.The $7.5 million of B notes were priced at 235 bps over swap, the $4.5 million of C notes at 335 bps over swap and the $1 million of D notes at 625 bps over swap.