Bendigo and Adelaide Bank (BEN) issued its first residential mortgage-backed securities (RMBS) transaction of the year on July 14. The A$1 billion (US$1.1 billion) deal – Torrens Series 2011-1 (Torrens 2011-1) – marks a major step for Australian RMBS currency diversification as its top-rated tranche is denominated in yen, at a size of ¥20 billion (US$253 million).

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