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ISCOVER
Suncorp securitised $2.6 billion in residential mortgages last Thursday, 15 May.
The transaction consisted of three tranches: $2.290 billion in AAA-rated notes, $96.2 million AA-rated notes and $213.2 million of unrated notes. The deal comprised of both fixed- and variable-interest rate mortgages.
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Suncorp said the securities would be held on its balance sheet and, if required, the Class A notes would be eligible to generate up to $2 billion in additional liquidity from the Reserve Bank.
Published: 22-05-08
