More RMBS activity as Citigroup completes first deal since 2008 [UPDATED]

Citigroup completed its first Australian residential mortgage-backed securities (RMBS) issue since 2008 on April 19. The deal achieved its target volume of A$760 million (US$797.8 million), with leads revealing that the book was oversubscribed - predominantly by domestic asset managers. The deal, Secured Australian Mortgage Trust 2011-1, is the fifth domestic RMBS to price in April following just three transactions in the first quarter.