RESIMAC Home Loans’ second offering since its launch in 2012 is also the only public issuance of residential mortgage-backed securities into the NZ market this year
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RESIMAC Home Loans is pleased to announce the pricing of its New Zealand residential mortgage-backed securities (RMBS) transaction – RESIMAC Versailles 2017-1.
This is RESIMAC Home Loans’ second offering into the New Zealand market since the business launched in 2012.
The transaction is a fully rated pass-through capital structure and comprises an underlying pool of Prime and non-conforming New Zealand residential mortgage assets. The senior AAA note priced at +125bps over 1 month BKBM and the transaction is the only public issuance of RMBS into the New Zealand market this year.
RESIMAC Home Loans was encouraged by the investor interest across the capital structure and with a number of new domestic accounts participating. The deal saw bids from nine investors.
RESIMAC joint-chief executive officer Mary Ploughman said: “The New Zealand business has continued to grow since launch in 2012 and this transaction is vital to the RESIMAC Home Loans business model, allowing capacity and pricing support for new business originations.
“The success of the transaction can also be attributed to the high-quality originating and underwriting policies and the robust servicing processes of the business, utilizing RESIMAC Home Loans’ proprietary servicing platform. RESIMAC Home Loans recognises the key role of investors as the term funding source for the business and we were pleased by the support of both long-standing and new investors into the program.”
Westpac Banking NZ and BNZ acted as co-Arrangers and Joint Lead Managers.
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Surge in residential first home buyers
First month mortgage refunded
This is RESIMAC Home Loans’ second offering into the New Zealand market since the business launched in 2012.
The transaction is a fully rated pass-through capital structure and comprises an underlying pool of Prime and non-conforming New Zealand residential mortgage assets. The senior AAA note priced at +125bps over 1 month BKBM and the transaction is the only public issuance of RMBS into the New Zealand market this year.
RESIMAC Home Loans was encouraged by the investor interest across the capital structure and with a number of new domestic accounts participating. The deal saw bids from nine investors.
RESIMAC joint-chief executive officer Mary Ploughman said: “The New Zealand business has continued to grow since launch in 2012 and this transaction is vital to the RESIMAC Home Loans business model, allowing capacity and pricing support for new business originations.
“The success of the transaction can also be attributed to the high-quality originating and underwriting policies and the robust servicing processes of the business, utilizing RESIMAC Home Loans’ proprietary servicing platform. RESIMAC Home Loans recognises the key role of investors as the term funding source for the business and we were pleased by the support of both long-standing and new investors into the program.”
Westpac Banking NZ and BNZ acted as co-Arrangers and Joint Lead Managers.
Related stories:
Surge in residential first home buyers
First month mortgage refunded
