Beyond Bank returns to the RMBS market 25 November 2014 9:37PM John Kavanagh Beyond Bank has completed its second issue of residential mortgage-backed securities since 2011 (and its second issue ever), with pricing of the senior notes priced at a margin of 91 basis points.Beyond Bank deputy chief executive Wayne Matters said 12 investors subscribed for the issue, Barton Series 2014-1 Trust, which raised A$300 million of funds.Matters said most of the investors were "real money" investors, although a couple of banks took big allocations.The $376 million of A notes, which have a weighted average life of 3.3 years, were priced at 91 bps over the one-month bank bill swap rate.Pricing on the $9 million of AB notes, which have a weighted average life of 5.8 years, was 140 bps over the swap rate.Pricing on the $7.5 million of AC notes, which have a weighted average life of 5.8 years, was 175 bps over swap. Pricing on the $7.5 million of B notes was not disclosed. The AC and B notes were retained by the issuer.Pricing on the Beyond Bank deal confirms the market trend, which has seen margins widen since Commonwealth Bank priced the top trance of a $4 billion deal at a margin of 70 bps in August.Beyond Bank has completed its second issue of residential mortgage-backed securities since 2011 (and its second issue ever), with pricing of the senior notes priced at a margin of 91 basis points.Beyond Bank deputy chief executive Wayne Matters said 12 investors subscribed for the issue, Barton Series 2014-1 Trust, which raised A$300 million of funds.Matters said most of the investors were "real money" investors, although a couple of banks took big allocations.The $376 million of A notes, which have a weighted average life of 3.3 years, were priced at 91 bps over the one-month bank bill swap rate.Pricing on the $9 million of AB notes, which have a weighted average life of 5.8 years, was 140 bps over the swap rate.Pricing on the $7.5 million of AC notes, which have a weighted average life of 5.8 years, was 175 bps over swap. Pricing on the $7.5 million of B notes was not disclosed. The AC and B notes were retained by the issuer.Pricing on the Beyond Bank deal confirms the market trend, which has seen margins widen since Commonwealth Bank priced the top trance of a $4 billion deal at a margin of 70 bps in August.