Brighten taking indications of interest for Solaris RMBS transaction
- Friday, 09 April 2021
Late in the day on 8 April, Brighten Home Loans began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Solaris 2021-1. The transaction is backed by prime Australian resident and nonresident loans, and is expected to launch as early as the week beginning 12 April with indicative volume of A$261.78 million (US$200.3 million). The deal has potential to upsize. Credit Suisse, Natixis and Standard Chartered are joint lead managers.
Solaris 2021-1 indicative price guidance and structure
|Tranche||Indicative volume (A$m)||Available volume (A$m)||Expected rating (S&P)||Initial credit enhancement (per cent)||Weighted-average life (years)||Initial price guidance (bp/1m BBSW)|
Source: Credit Suisse 8 April 2021
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