Low doc prominent in Macquarie's mixed pool RMBS repackage
Macquarie Securitisation (Macquarie) has priced a A$1.2 billion (US$1.11 billion) privately placed residential mortgage-backed securities (RMBS) deal – PUMA Masterfund S-8 – as an agreed restructure of an externally provided mortgage warehouse facility. Some 54 per cent of the deal's pool is represented by full documentation mortgages with the balance low doc loans.
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Kommuninvest targeting regular Kangaroo and Kauri issuance
Sweden's local government funding agency, Kommuninvest (AAA/Aaa), has visited debt investors in Australia and New Zealand for the first time with the message that its growing balance sheet means it intends to become a regular issuer in both Kangaroo and Kauri markets. The firm roadshowed in New Zealand on March 15 and 16 and Australia on March 17-19.
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