On 2 April, Bluestone Group (Bluestone) launched its residential mortgage-backed securities (RMBS) deal, Sapphire 2019-1. The forthcoming transaction is capped at A$400 million (US$284.5 million) and is expected to price on or before 4 April. National Australia Bank is arranger for the transaction, as well as joint lead manager alongside Commonwealth Bank of Australia, Deutsche Bank and Macquarie Bank.