The most surprising news of the week though, was Suncorp Metway's announcement of its A$1.2 billion, Apollo Series 2009-1 RMBS issue. This is the largest RMBS issue since St George Bank undertook its Crusade Euro Trust No.1E of 2007 issue, which included a A$1.4 billion tranche.The issue includes two 'short' tranches which have been reasonably popular with real money investors: A$90 million of Class A1 notes will be issued along with A$300 million of Class A2 notes. The tranches have weighted average lives of 0.17 and 0.81 years and are rated by Standard & Poor's and Fitch Ratings at 'A-1+/F1+' and 'AAA', respectively.But Suncorp must have also found some real investor demand for the remaining two tranches: A$690 million of Class A3 notes and A$120 million of Class B notes, as AOFM is unlikely to take any more than A$400 million of the Class A3 notes. The tranches have weighted average lives of 3.62 years and 7.83 years and are rated 'AAA' and 'AA-', respectively.