People's Choice launches Light Trust 2019-1 RMBS deal

On 23 July, People's Choice Credit Union (People's Choice) launched its residential mortgage-backed securities (RMBS) deal, Light Trust 2019-1. Indicative total volume for the transaction, which is expected to price on or before 26 July, is A$500 million (US$351.6 million) with the potential to increase to A$650 million. National Australia Bank is arranger, and is also joint lead manager alongside ANZ, Macquarie Bank and Westpac Institutional Bank.