BOQ’s Series 2010-2 REDS Trust RMBS Oversubscribed to A$1.6 Billion
Wednesday, 18/08/2010
“In total 14 investors, including the Australian Office of Financial Management (“AOFM”), participated in the deal which was placed with investors. The AOFM participated with an investment of A$497.6 million in the Class A2 Notes.
“The transaction gained good momentum from the outset allowing for the oversubscribed book to be upsized.”
The Class A Notes have been rated AAA/Aaa by S&P and Moody’s respectively and pricing details are set out below:
| Class A1 | A$960 million | Weighted Average Life of 1.5 years | 1 month BBSW + 100 basis points |
| Class A2 | A$497.6 million | Weighted Average Life of 6.2 years | 1 month BBSW + 110 basis points |
The Class AB Notes were priced at BBSW +1.60%. Class B1 and B2 Note pricing has not been disclosed.
National Australia Bank was the Arranger of this transaction and National Australia Bank, Deutsche Bank and The Royal Bank of Scotland were Joint Lead Managers.
