On 12 April, Bendigo and Adelaide Bank (BEN) launched its residential mortgage-backed securities (RMBS) deal, Torrens Series 2021-1 Trust. The deal has indicative volume of A$500 million (US$381.1 million) and can be upsized to a maximum of A$1 billion. Pricing is expected on 15 April. National Australia Bank is arranger, and joint lead manager alongside ANZ, Macquarie Bank and Westpac Institutional Bank.