Macquarie prices its third RMBS issue for the year

John Kavanagh
Macquarie Bank has completed its third issue of residential mortgage-backed securities for the year, raising A$1.5 billion of funds.

PUMA Series 2015-1 Trust was upsized from $500 million offered at launch.

Macquarie will pay a margin of 95 basis points over the bank bill swap rate on the $1.38 billion of A notes, which have a weighted average life of 2.7 years.

Pricing on the other classes of notes was not disclosed.

Macquarie's cost of funds in the RMBS market has edged up since the start of the year. It paid a margin of 90 bps over the swap rate on the top tranche of PUMA Series 2015-1 Trust in February.