No imminent issuance slowdown predicted as year end approaches
Issuance across the corporate and securitisation markets continued in the past week with the pricing of a pair of corporate deals and more than A$1 billion (US$997.7 million) of securitised paper, with another innovative residential mortgage-backed securities (RMBS) deal launching. Market participants note that Kangaroo deal flow is limited, but they expect consistent domestic issuance to continue as borrowers take advantage of favourable conditions that may not last into 2011.CommBank adds fixed rate tranche to Bankwest RMBS
Commonwealth Bank of Australia (CommBank) subsidiary Bankwest launched its second residential mortgage-backed securities (RMBS) transaction of 2010 on November 11, in what is also likely to be the first sizeable Australian RMBS deal to come to market without support from the Australian Office of Financial Management (AOFM) since May this year.