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RMBS bond expected from Westpac

Talk also emerged on Friday that Westpac is preparing to launch a A$1 billion mortgage-backed bond issue, which, according to Reuters, will include a triple A rated tranche priced at 130 bps over bank bills. The Financial Review today suggested the top tranche may price at a slightly wider margin of 135 basis points.If this eventuates, it will be the first publicly sold RMBS issue by Westpac since its Series 2007-1G WST Trust issue in May 2007.

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