RedZed Lending Solutions Pty Limited yesterday priced its second RMBS deal for 2017, a A$250 million transaction, to be known as RedZed Trust Series 2017-2. "This was RedZed's fifth such issue and marked total issuance in 2017 of $550 million," said Evan Dwyer, managing director of RedZed. The specialist finance firm has had a particular focus on self-employed borrowers, expanding its loan book a year ago to the day (30 November 2016), when ME sold its business banking portfolio to RedZed.Moody's preliminary ratings, along with the pricing for the top three tranches were: The $150 million Class A-1 Notes and the $56.50 million Class A-2 Notes all rated Aaa(sf) and were priced, respectively, at 125 basis points and 170 bps over the 1-month bank bill swap rate. The $23.75 million Class B Notes were priced at 225 bps over 1-month BBSW and were assigned preliminary ratings of Aa2(sf). The $4.75 million Class C Notes, the $4.75 million Class D Notes, the $4.25 million Class E Notes and the $2.50 million Class F Notes were assigned preliminary ratings of A2(sf), Baa2(sf), Ba2(sf) and B2(sf), respectively. The $3.50 million Class G notes were unrated.The firm has received "continued support from a loyal investor base," said Jonathan Mintz, director of securitisation originations in National Australia Bank's capital financing business.NAB was the arranger and was joint lead manager, along with CBA, of this transaction.Dwyer expanded on this, explaining the RMBS transaction was priced the day after launch as it had been "driven by reverse enquiries" from investors. The transaction is due to settle on December 6 2017.This demand was also reflected in the pricing: "The Class A1 and Class A2 Notes tightened 20 bps and 25 bps respectively when compared to RedZed Trust Series 2017-1 in March 2017, demonstrating continued investor support for RedZed," said Ernest Biasi, executive director of debt markets securitisation at Commonwealth Bank of Australia.Dwyer said RedZed has originated almost $2 billion in loans in Australia, and the latest RMBS deal has edged the company's total securitisation issuance over the $1 billion mark - co-incidentally the approximate size of the firm's current loan book.