Puma bond flies for Macquarie
Macquarie Bank returned to the securitisation market last week, after a break of more than two years, when it sold A$1.25 billion of mortgage-backed securities.Puma Series 2013-1 was upsized from a launch volume of $500 million. Pricing was in line with recent issues by AMP Bank and ING Direct.Pricing on the $1.15 billion A tranche, which has a weighted average life of 3.5 years, was 100 basis points over the bank bill swap rate. Pricing on the $75 million AB tranche and the $25 million B tranche was not disclosed.Macquarie said in a statement that 18 investors participated in the transaction, with 57 per cent of the A notes going to offshore investors.