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FirstMac upsizes

In the structured finance sector, the AOFM-backed FirstMac Mortgage Funding Trust Series 2-2009 RMBS issue was upsized and priced. The size of the issue was increased to A$470 million from A$400 million, with AOFM only taking up the A$19.74 million Class AB tranche in full and A$195.4 million of the A$295.4 million Class A-2 tranche, i.e. less than half of the total issue.The A$137 million Class A-1 tranche priced at 80 basis points over bank bills, the Class A-2 tranche at 140 bps  and the Class AB tranche at 195 bps over. Pricing was not disclosed for the other tranches.

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