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ING Direct pays 146 bps for RMBS

ING Direct has priced an issue of residential mortgage-backed securities, issue via IDOL 2016-1 Trust. The issue size was finalised at A$870 million, up from $500 million when launched.The issue comprises $800 million of A notes, $26.5 million of AB notes and $43.5 million of B notes.The Class A notes have a weighted average life of 2.8 years and were priced at 146 bps over 30-day bank bills. Pricing was not disclosed for the Class AB and B notes, both of which have a WAL of 5.4 years.

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