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On 11 February, Westpac Banking Corporation (Westpac) launched its residential mortgage-backed securities (RMBS) transaction, WST 2019-1. The forthcoming deal has indicative total volume of A$1 billion (US$709.2 million) and is expected to price on 15 February. Westpac Institutional Bank is arranger for the transaction.
WST 2019-1 structure and indicative price guidance
| Tranche | Indicative volume (A$m) | Expected ratings (S&P/Fitch) | Weighted-average life (no. of years) | Indicative price guidance (bp/1m BBSW) |
|---|---|---|---|---|
| A | 920 | AAA/AAA | 3.5 | 108 area |
| B | 80 | NR/NR | 7.2 | ND |
Source: Westpac Institutional Bank 11 February 2019
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