Columbus Capital starts marketing Triton 2018-1 RMBS deal

Wednesday, 04 July 2018

Late in the Sydney day on 3 July, Columbus Capital began taking indications of interest for its residential mortgage-backed securities (RMBS) transaction, Triton 2018-1. The deal has an indicative total volume equivalent to A$506.4 million (US$374 million), including Class A1-US notes which are denominated in US dollars.

Triton 2018-1 indicative price guidance and structure

TrancheIndicative volume (m)Expected ratings (S&P/Fitch)Weighted-average life (no. of years)Indicative price guidance (bp)
A1-MM A$46 AAA/AAA 0.4 70 area/1m BBSW
A1-US US$100 AAA/AAA 1.4 85 area/1m US LIBOR
A1-AU A$185 AAA/AAA 3 123 area/1m BBSW
A1-5Y A$65 AAA/AAA 4.9 155 area/1m BBSW
A2 A$25 AAA/AAA 4.2 165 area/1m BBSW
A3 A$20.5 AAA/AAA 4.2 175 area/1m BBSW
AB A$8.5 AAA/NR 4.2 185 area/1m BBSW
B A$10 AA/NR 4.2 high 100s area/1m BBSW
C A$6.25 A/NR 4.2 high 200s area/1m BBSW
D A$2 BBB/NR 4.2 high 300s area/1m BBSW
E A$1.25 BB/NR 3.3 high 500s area/1m BBSW
F A$1.5 NR/NR 4.9 ND

Source: National Australia Bank 3 July 2018

Class A1-MM, Class B, Class C, Class D, Class E and Class F notes are preplaced.