CommBank launches refinance of RMBS notes

On 11 February, Commonwealth Bank of Australia (CommBank) launched a refinance of the Class A3 notes from its Medallion 2014-1 residential mortgage-backed securities (RMBS) transaction. The self-led deal is capped at A$300 million (US$213.1 million) and is expected to price on or before 14 February.

Medallion 2014-1 Class A3-R structure and indicative price guidance

TrancheIndicative volume (A$m)Expected ratings (S/F)Credit enhancement (per cent)Weighted-average life (no. of years)Indicative price guidance (bp/1m BBSW)
A3-R 300 AAA/AAA 16.4 3.6 100-105 area

Source: Commonwealth Bank of Australia 11 February 2019